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E-book
Executive's Guide to Solvency IIISBN: 978-0-470-92570-6
E-book
208 pages
September 2010
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Acknowledgments.
Chapter 1: The Evolution of Insurance.
Risk Perception.
Early Risk Instruments.
Role of Insurance in Economic Growth and Prosperity.
Conclusion.
Chapter 2: Insurers' Risks.
Insurable and Uninsurable Events.
Risk Taxonomy.
Underwriting Risk.
Market Risk.
Credit Risk.
Operational Risk.
Liquidity Risk.
Risk Transfer and Mitigation.
Conclusion.
Chapter 3: Solvency II Chronology.
Need for Insurance Regulations.
Why Do Insurers Fail?
Causes of Failure.
Initial Solvency Directives.
Process of the Solvency II Project.
Conclusion.
Chapter 4: Learning from the Basel Approach.
Regulation in Context of the Credit Crisis.
Evolution of Banking Regulation.
Application to Solvency II: Regulation.
Application to Solvency II: Business Logic.
Lessons from the Credit Crisis.
Conclusion.
Chapter 5: The Solvency II Directive in Brief.
What Is Solvency II?
Solvency II Is Principles Based.
Partial and Internal Models.
Economic Capital.
The Economic Balance Sheet.
Structure of the Directive.
Conclusion.
Chapter 6: The Economic Balance Sheet.
Total Balance Sheet Approach.
Quantitative Stipulations of the Level 1 Text.
The Standard Formula.
Non-Life Underwriting Risk Module.
Market Risk Module.
Default Risk Module.
Conclusion.
Chapter 7: Internal Models.
Complexity of Implementation.
Definition and Scope of Internal Models.
Internal Models Application.
Tests and Standards.
Conclusion.
Chapter 8: People, Process, and Products.
Key to a Successful Solvency II Project.
People.
Process.
Technology.
Data Management.
Risk Analysis.
Reporting.
Conclusion.
Chapter 9: Business Benefits.
Regulation Past and Present.
Benefits of an Enterprise Data Management Framework.
Benefits of an Economic Balance Sheet.
Benefits in Perspective.
Benefits beyond Solvency II.
Conclusion.
Notes.
Glossary.
Selected References.
About the Authors.
Index.
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