Podcast Location:
Download it here [file size: 19 MB]
Categories:
Insurance Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast with insurance specialist David Whear of Norton Rose aims to explore the Solvency II Directive and its likely impact on the way insurers carry out their business. It will discuss the background to the current proposals and the 3-pillars of the new regime: capital buffers, better governance and risk management and transparency & disclosure.

Outcomes:
After completing the course you will:
  • Understand what the Solvency II project is and where it has emerged from;
  • Understand what it will mean for insurers and their business models;
  • Be aware of how well prepared the insurance sector is for the changes that will be required and by what date;
  • Understand the deficiencies of the regulatory regime that applied to insurers prior to Solvency II;
  • Understand whether Solvency II is designed to be a zero-failure regime;
  • Understand who Solvency II is designed to protect;
  • Know the new capital requirements that are to be imposed on insurers;
  • Be aware of what changes to governance codes and structures will be necessary to comply with Solvency II;
  • Be aware of what new transparency obligations may be required of insurers in the new regime.
Level:
General Interest Difficulty: 2 of 5
Classification:
Legislative Updates
Sources and References:
  • Solvency II Directive (2009/138/EC).
Tags:

This podcast is about the Solvency II Directive which will introduce economic risk-based solvency requirements across all EU Member States for the first time. The Solvency II regime is often expressed as 'Basel III for insurers'.

It is envisaged these new solvency requirements will be more risk-sensitive and more sophisticated than in the past, thus enabling a better coverage of the real risks run by any particular insurer. In this podcast, David Whear of Norton Rose explores what the key changes will be and what they will mean for insurers.

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