The European Insurance and Occupational Pensions Authority (EIOPA)
published today results of its Survey on Crisis Prevention, Management and
Resolution Preparedness of national supervisory authorities (NSAs) with
regard to the insurance sector.
The exercise was conducted in line with the Regulation establishing EIOPA,
which requires the Authority to build a common Union supervisory culture,
as well as to actively participate in the development and coordination of
recovery and resolution plans, procedures in emergency situations and
preventive measures to minimise the systemic impact of any failure.
The survey covered the whole crisis management flow, i.e. crisis
prevention, alert, assessment, management and resolution. It also included
several questions on external communications to the public; cooperation on
cross-sectorial issues with other national authorities as well as the
impact of the financial crisis on the NSAs approach.
The objective of this exercise is to obtain a better understanding of the
approaches and practices in the different NSAs. As a next step, EIOPA will
extract a set of key characteristics, which will help national supervisors
to assess their relative situation. This will contribute to further
development of supervisory culture and consistent supervisory practices in
Europe.
The results of the survey can be viewed on EIOPA's website
(Link: https://eiopa.europa.eu/publications/reports/index.html
).
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Phone: +49 69 951119-20
Fax: +49 69 951119-19
info@eiopa.europa.eu
https://eiopa.europa.eu
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