Solvency II reporting dry runs reveal Pillar III challenges
As insurers begin to conduct dry runs of their reporting schedules in preparation for the various conflicting regulations coming into force, it is becoming clear just how difficult compliance is going to be. Clive Davidson reports
As insurers move on from Pillars I and II of Solvency II to preparing for Pillar III, they are discovering a step change from the reporting they have been used to under existing regimes. Not only will the authorities need much more information than was previously the case, they will want a great deal of it more frequently.
As insurers are discovering as they attempt dry runs of their reporting schedules, not all of the data requirements are clear. Asset data in particular has a number of issues
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