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Looking forward


REGULATION TIMELINE


Although the reinsurance community will be kept busy by the intense catastrophe activity in the fi rst quarter of 2011, there is also much work to be done in preparation for a raft of future regulatory changes.


Below we highlight some of the key dates for regulatory developments.


EIOPA: The fi rst of two Financial Stability reports is due to be released by the end of July (EU)


Consultation on the UK regulatory architecture is due to end (UK)


JUNE


NAIC: Contemplating issuing principle-based reserving impact study report in two phases; the fi rst phase report on the principle-based reserving impact study is likely to be released in June. The aim of the study is to calculate the impact of these provisions on industry reserves and compare them to current methodologies (US)


EIOPA: The fi nal report of the European Insurance and Occupational Pensions Authority’s stress test is expected to be released by the end of July (EU)


Lloyd’s: Roll-out of electronic placement support for endorsements to further classes and organisations begins (UK)


JULY


NAIC: As part of a solvency modernisation initiative, the Group Solvency Working group, which is focused on the ORSA requirement that the NAIC is contemplating, is looking to have a series of individual meetings with a number of major insurers to discuss their ERM processes and ORSA consultation paper (US)


10 | INTELLIGENT INSURER | Summer 2011


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