April 9th, 2013

Oliver Wyman Report: Recovery and Resolution Plans for Insurers

Posted at 1:00 AM ET

When banks in Europe and the United States become unable to honor their financial obligations in 2007 and 2008, governments bailed them out. But why? The standard answer is that politicians faced a terrible choice. They had to choose between saving insolvent banks largely “as is” in the short-term, or unleashing economic chaos. Recovery and Resolutions Plans (RRPs) are supposed to stop such a dilemma arising again.

At the end of April 2013 The Financial Stability Board (FSB) in consultation with The International Association of Insurance Supervisors (IAIS) are planning to designate “Globally Systemically Important Insurers” (G-SIIs) which, like their bank equivalents, will be required to produce RRPs.

Based on the work of Oliver Wyman, Guy Carpenter sister company, for banks on this topic, as well as Oliver Wyman’s recent work for insurers and with The Geneva Association, their report, Recovery and Resolution Plans for Insurers, examines the lessons learned from banks’ experiences and how insurers can lead the debate in the development of RRPs.

Click here to access the report >>

Click here to register to receive e-mail updates >>

AddThis Feed Button
Bookmark and Share


Related Posts