EIOPA has published its final guidelines for the phasing-in of the Solvency II regime, with the regulations announced to come into force on 1st January 2016.
Prior to that date, European insurers have two other deadlines to meet:
• A pre-application to the relevant regulator must be submitted in or around September 2014.
• A full application to the relevant regulator must be submitted by 1st June 2015.
This two page paper studies two actions that insurers should take now in order to meet those deadlines and ensure full Solvency II compliance by 2016.
1) Ensure data is always "complete, accurate and appropriate."
2) Automate, integrate and embed Solvency II reporting.