FINMA pursues a principle and risk-based approach in supervising insurance undertakings. The higher the risk potential of an insurance undertaking, the more intensive the supervision. When applying the principle of proportionality, FINMA does take into account the nature, scale and complexity of the insurance undertaking in question and does scale the provisions of governance and qualitative risk management.
In the light of principle-based supervision, it might be difficult for some small and medium-sized insurance undertakings to recognise the proportionality and risk-orientation in insurance supervision and to address the provisions appropriately. In this presentation, FINMA explains how it differentiates the supervision of governance and qualitative risk management matters based on the nature, scale and complexity of insurance undertakings and what implications this may have for small and medium-sized insurance undertakings.
Sabine Betz: Sector Lead Insurance, Partner EY
Jens Gyger: Head of Quallitative Risk Management – FINMA Insurance Division
Introduction: Dr. Ioannis Akkizidis
Moderator: Xandra Farkas
In our chapter events – access for members only – we present one or more speakers to share knowledge, updates and best practises on a specific risk topic. In small groups of risk professionals you can exchange thoughts and test ideas. More on SRA chapters. This event is hosted by the chapter Regulatory Developments.
- The Principle of Proportionality in Insurance Supervision
3. February 2020
18:30 - 20:00