Risk event: Managing your business under stress: Insurance Recovery and Resolution
April 5 @ 10:00 am - 11:00 am
Having a plan for recovery in case things go wrong is a vital part of the risk management process for insurers today. Just as important though is to know what options you have if your business is no longer viable.
HM Treasury recently issued a consultation about creating a new Insurance Resolution regime in the UK. This will extend existing recovery planning, and therefore demonstrate that insurers have carefully considered all options in case the business falters. Whilst non-Solvency 2 firms and friendly societies are out of scope of the regime currently, the same disciplines are vital, as can be seen from recent PRA Dear CEO letters.
EY’s Global Insurance Recovery and Resolution Planning Leader Kabari Bhattacharya, who has worked on a number of recovery and resolution plans for large global insurers and re-insurers across multiple geographies will join us to explore what actions AFM members should be taking now to prepare for a broader recovery and resolution regime in the UK, and how to make best use of existing recovery plans.