2011-11-24
Recent economic turmoil in Europe has further exacerbated the delay and uncertainty of the implementation date of Solvency II, potentially creating a huge strain on companies during 2013, said Nick Dexter, a partner in KPMG’s UK operations.
Dexter offered a Solvency II update during KPMG’s 20th Annual Insurance Issues Conference in Toronto on Nov. 24.
The original implementation date of Jan. 31, 2012 has been pushed back to Jan. 31, 2013 and now there is talk of extending the deadline another year to Jan. 31, 2014, Dexter said.
“The impact of Solvency II in certain parts of Europe is going to dramatically increase the capital requirement [of insurers],” he said.
When I was researching this auto insurance blog, I posted to a question to my Facebook page: “Have you ever purchased a lemon? What did you do about it? What help were you able to get, from where, and from whom?”
In the world of classical music, lutenist Matthew Wadsworth is a bonafide star.