Shifting gears for the new regime
The role of risk governance in Solvency II
Although a number of existing governance regulations currently impact insurers, Solvency II will catalyse a re-examination of whether insurers' governance models are fit for purpose. Since governance forms an integral part of the requirements of Solvency II, the Directive provides a compelling reason for insurers to reassess their systems of governance.
In this Deloitte point of view, we examine the need for a robust system of governance, explore an integrated approach to risk and capital management and consider the responsibilities of senior management under the rules of Solvency II.