Solvency II technical draft too harsh, firms claim

Industry representatives call on Eiopa to soften draft specifications

Eiopa flags

Insurance industry representatives have called on the European Insurance and Occupational Pensions Authority (Eiopa) to soften draft Solvency II technical specifications, arguing that some of the specifications are not aligned with parts of the Solvency II legislation and impose harsher requirements than politicians intended. An updated draft of the technical specifications, circulated in March for consultation, is inconsistent with the Solvency II delegated acts in relation to ring-fencing r