Executive’s Guide to Solvency II 1st Edition by David Buckham, Jason Wahl, Stuart Rose 0470545720 9781119200710

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Product details:

ISBN 10: 0470545720 

ISBN 13: 9781119200710

Author: David Buckham, Jason Wahl, Stuart Rose

Providing a guide to the evolution, practice, benefits, and implementation of Solvency II, Executive′s Guide to Solvency II deftly covers this major European regulation which ensures that insurers can meet their risk–based liabilities over a one–year period to a 99.5% certainty. Part of the Wiley and SAS Business series, this book will guide you through Solvency II, especially if you need to understand the subtleties of Solvency II and risk–based capital in basic business language. Among the topics covered in this essential book are:

• Background to Solvency II
• Learning from the Basel Approach
• The Economic Balance Sheet
• Internal Models
• People, Process, and Technology
• Business Benefits of Solvency II

Executive′s Guide to Solvency II  has as its aim an explanation for executives, practitioners, consultants, and others interested in the Solvency II process and the implications thereof, to understand how and why the directive originated, what its goals are, and what some of the complexities are. There is an emphasis on what in practice should be leveraged upon to achieve implementation, specifically data, processes, and systems, as well as recognition of the close alignment demanded between actuaries, the risk department, IT, and the business itself.

Table of contents:

Chapter 1 The Evolution of Insurance
Origins of Risk
Early Risk Instruments
Role of Insurance in Economic Growth and Prosperity
Conclusion

Chapter 2 Insurers’ Risks
Insurable and Uninsurable Events
Risk Taxonomy
Underwriting Risk
Market Risk
Credit Risk
Operational Risk
Liquidity Risk
Risk Transfer and Mitigation
Conclusion

Chapter 3 Solvency II Chronology
Need for Insurance Regulations
Why Do Insurers Fail?
Causes of Failure
Initial Solvency Directives
Process of the Solvency II Project
Conclusion

Chapter 4 Learning from the Basel Approach
Regulation in the Context of the Credit Crisis
Evolution of Banking Regulation
Application to Solvency II: Regulation
Application to Solvency II: Business Logic
Lessons from the Credit Crisis
Conclusion

Chapter 5 The Solvency II Directive in Brief
What Is Solvency II?
Solvency II Is Principles-Based
Partial and Internal Models
Economic Capital
The Economic Balance Sheet
Structure of the Directive
Conclusion

Chapter 6 The Economic Balance Sheet
Total Balance Sheet Approach
Quantitative Stipulations of the Level 1 Text
The Standard Formula
Non-Life Underwriting Risk Module
Market Risk Module
Default Risk Module
Conclusion

Chapter 7 Internal Models
Complexity of Implementation
Definition and Scope of Internal Models
Internal Models Application
Tests and Standards
Conclusion

Chapter 8 People, Process, and Technology
Key to a Successful Solvency II Project
People
Process
Technology
Conclusion

Chapter 9 Business Benefits
Regulation Past and Present
Benefits of an Enterprise Data Management Framework
Benefits of an Economic Balance Sheet
Benefits in Perspective
Benefits beyond Solvency II
Conclusion

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Tags: David Buckham, Jason Wahl, Stuart Rose, Executive’s