Solvency 2 for General Insurers - a Business Guide
Solvency 2 - Course Outline
The implementation of Solvency 2 in October 2012 will clearly bring fundamental changes to the way insurance firms manage capital and risk across Europe. In the UK, the FSA is already asking firms for details of their approach to managing the transition to the new regime.
What is still not clear, however, to many insurance professionals is just what the introduction of Solvency II will mean in practical business terms . . .
What are the implications for underwriting, claims and the day to day management of business risks and operations?
This timely, half-day workshop has been developed specifically to offer some answers to these and other key questions, including:
- What is expected in terms of the Solvency II risk management framework, and how does this link to the capital requirements
- The risks to be considered as part of your Solvency II implementation programme
- How these risks can be measured and monitored on an ongoing basis.
What You Will Take Away
This focused half day seminar will help you:
-
Translate the regulatory expectations into a practical risk management framework for business and operational risks
-
Understand how risk control interacts with capital requirements, and what the real risks are to your business
-
Know how your day-to-day activities impact the nominal accounts on your balance sheet
-
Identify the most suitable primary controls (and control owners) to manage the risks
-
Stress test your controls and monitor their ongoing effectiveness
Who Will Benefit?
This event will be of value to all those involved in the day to day management of risk and operations in a General Insurance business. This will include people in the following areas:
Executive Directors Non Executive Directors Senior Management
Finance Underwriting Claims
Risk Operations Compliance
Audit
Programme
Session
|
Content
|
Solvency II: Key Concepts
& Objectives
|
- A brief history
- How Solvency 2 is structured into Pillars and why
- What is Solvency 2 designed to achieve?
- The Assets & Liabilities ‘total balance sheet’ approach
- The expectation in relation to principles of risk management
- Minimum Capital & Solvency Margins: why the need for both
|
|
Understanding the Risk Management Process
|
- Identifying, assessing, monitoring and controlling risks
- Internal processes and controls: administration and accountability
- Risk Management: monitoring and reporting standards
|
| Identifying Risk |
- The key financial risks
- Other quantifiable risks
- Managing outsourcing arrangements
- ‘Real’ risk transfer : when it’s real, and when it’s not
|
| Measuring & Monitoring Risk |
- ORSA (Own Risk Solvency Assessment): what it covers
- SRP (Supervisory Review Process): how does it work?
- The role to be played by the Audit Committee
|
Course Leaders
Charles Galloway leads CTP’s Insurance Sector training initiatives and has considerable experience of working in the insurance industry, in both business and compliance roles, combined with extensive technical knowledge. Following several years as a broker, at Sedgwick’s and then Jardine Lloyd Thompson, Charlie made the career change into compliance. He was involved in creating the policies and procedures needed to achieve compliance with GISC and then FSA regulation. As Compliance Officer for JLT he was involved in all aspects of compliance, as well as implementing the risk management programme for the London Market. His team won the Best Client Care award for their groundbreaking E&O programme in association with CMS Cameron McKenna.
John Constable has 16 years training experience with both insurers and brokers. His versatility and range of knowledge equips him to lead both technical and developmental events. John has delivered financial training to many insurance professionals and fully appreciates the challenges ’the financials’ present to non specialists. John was Head of People Development at JLT Risk Solutions where he engineered a number of critical projects to support the business, including the development and implementation of structures, policies and procedures to comply with the FSA’s Training & Competence requirements. John has a BA (Hons) in History from Kings College
London, holds a financial qualification from the Open University, a Diploma in Management from Henley Management College and is a Member of the Chartered Institute of Personnel and Development.
This event is can also be tailored and delivered in-house, as a group seminar, executive workshop or senior managmenent briefing. For details please telephone 01327 858292 or email enquiries@ctp.uk.com
Booking
To book online via our secure server (by credit/debit card, cheque or invoice), click here or alternatively call us on 01327 858307
Discounts
A Discount of 10% applies to members of the Compliance Institute. A 10% discount is also available for a booking of 3 or more delegates. The discounts are applied on booking.
|