Omnibus II revisions fail to quell run-off sector concerns
... according to Ruxley Ventures, there are several outstanding issues that must be addressed.
“The level of evidence required of the terminating activity and the rules that will need to be met to demonstrate a portfolio is amenable to early termination have not been clarified.
“There is the possibility some companies that plan to implement a termination strategy will not meet the requirements and will still be faced with the significant costs of full transition to Solvency II,” Ruxley said.
Click on the link below to read the full Insurance Day article