Eiopa chairman: stress tests 'preventative' not a 'repair tool'
As Eiopa unveils stress tests for European insurers, chairman Gabriel Bernardino speaks to Insurance Risk about comparisons with bank stress tests, implementing Solvency II and adjusting to impending global capital standards. Hugo Coelho reports
Insurance regulators have often been criticised for simply copying the approach of their banking counterparts. Gabriel Bernardino, the chair of the European Insurance and Occupational Pensions Authority (Eiopa), insists this is not the case for European-wide industry stress tests running in parallel with a current health-check of the banking system. Speaking exclusively with Insurance Risk, Bernardino draws a distinction: banks use stress tests as a repair tool; insurers should see them as a
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