EIOPA Chairman’s speech on risk management at SUERF lecture
22 September 2011
The chairman of the European Insurance and Pensions Authority (EIOPA), Gabriel Bernardino, gave a speech on the supervisor's approach to risk management at the European Money and Finance Forum (SUERF) annual lectures in Helsinki.
In his speech, Mr Bernardino addressed the following issues:
-
Is risk management relevant for prudential regulation?
-
Solvency II – a regime based on sound risk management principles.
-
Supervisors expectations – a guide, not a receipt.
-
ORSA – the heart of Solvency II.
-
The supervisory review process.
-
Towards an appropriate vision for risk management.
Mr Bernardino mentioned that Solvency II is to be a far more comprehensive risk-management system than currently exists with the “own risk and solvency assessment” (ORSA) at its heart. He also urged supervisors to ask the right questions and challenge the status quo continuously.
EIOPA's Speech webpage
© EIOPA
