Solvency II Operational Risk Challenges
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As companies prepare for Solvency II, many are struggling with the right approach to address key aspects of the directive. Due to come into effect in 2012, Solvency II promises a more sophisticated ‘risk-based’ form of supervision that will require many insurers to augment their risk management framework – particularly with regard to operational risk.
In a Webinar hosted by OpRisk & Compliance Magazine, Stuart Robinson, senior vice president of group risk at Germany’s largest insurer, Allianz discusses how Solvency II operational risk requirements are well aligned with Basel II requirements and other regulatory and industry standards. In particular, he points to how insurers need to: