A Critical analysis of the Solvency II proposals

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<title>Critical analysis of the Solvency II proposals</title>
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<abstract displayLabel="Summary">The European Commission has recently published the Solvency II proposals with the objective to fundamentally review the insurance supervisory framework. We test the Solvency II framework against seven criteria developed by Cummins et al. describing how best to duplicate the operation of an efficient and complete market. Solvency II satisfies most of these criteria. In this way, Pillar II/III will resolve some of the problems in Pillar I, such as inappropriate incentives of the capital requirements formulae (hard solvency capital requirement limit, modular minimum capital requirement). Areas for further work on Pillars II and III are operational and business risk, long-term effects of strategic decision-making</abstract>
<note type="statement of responsibility">René Doff</note>
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<topic>Solvencia II</topic>
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<topic>Control de seguros</topic>
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<topic>Gerencia de riesgos</topic>
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<topic>Mercado de seguros</topic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
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<text>01/04/2008 Tomo 33 Número 2  - 2008, p. 193-206</text>
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