BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

E&Y survey sheds light on Solvency II practice


Most European companies have begun their preparations for Solvency II, the risk-related solvency regime for insurers within the European Union that is expected to come into force around 2010, according to a survey.

According to consultancy firm Ernst & Young's Global Insurance Center, 80% of insurance companies in Europe have begun their Solvency II implementation program, but only 20% believe that their current capital models will comply with the forthcoming regime. In addition, just over half, 53%, say their internal models will need significant enhancement.

Almost two-thirds, 64%, of insurers say they need to upgrade the skills of their actuaries and risk managers to deal with the challenges of Solvency II, and 15% of those say they may need to hire new staff to cope with the regime's demands.

E&Y surveyed senior managers responsible for Solvency II at 54 European insurance companies in 16 countries.