Lamport Bassitt Solicitors - Legal News - ABI registers concerns over progress on Solvency II


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS ABI registers concerns over progress on Solvency II Concerns have been registered over the Committee of European Insurance and Occupational Pensions Supervisors' final set of advice on Solvency II implementing measures. Solvency II is a review of the capital adequacy regime for the insurance industry in Europe and it aims to establish a revised set of capital requirements and risk management standards. According to Peter Vipond, director of financial regulation at the Association of British Insurers (ABI), the approach adopted by regulators is overly cautious. He remarked: "It is excessive and fails to recognise both the strength of the life and general insurance industries and how insurers work." Although Solvency II has the potential to provide considerable benefits to consumers and cover providers, more work on its development is needed, Mr Vipond claimed. The ABI will continue to work with the Commission and other various stakeholders to make sure that a suitable solution is found, he went on to say. Related Articles: 24/12/2010 - Older drivers 'safest in poor weather' 17/12/2010 - HSE launches web tool for risk assessments 5/10/2010 - New asbestos ruling over mesothelioma disease 20/9/2010 - Theft affects one in eight students yearly 16/9/2010 - Students being 'careless with money' More Insurance Law News