Insurers struggle with ‘ambiguous’ technical specifications for long-term guarantees exercise
Difficulty interpreting rules threatens usefulness of results to policy-makers
Problems interpreting the technical specifications for the long-term guarantees impact assessment (LTGA) are frustrating insurers' ability to complete the exercise, according to experts.
Consultants suggest that the number of corrections Eiopa has released and the difficulties firms have interpreting some of the specifications means the assessment is taking some firms more time than they first thought. Some insurers are understood to have anticipated completing the exercise in a matter of days
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