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RESEARCH PRODUCT
Definition and Holders of Key Functions
Meinrad Drehersubject
SolvencyProcess managementInternal auditSupervisory boardmedia_common.quotation_subjectKey (cryptography)BusinessFunction (engineering)DirectiveDecentralizationmedia_commondescription
This chapter takes up the four key functions established in the Solvency II Directive. In this vein, the significance of the key functions is highlighted first. Then follows the analysis of the terms “key function” and “key function holders”, terms undefined in the Solvency II Directive. The next step points out the distinctions among key function holders and their subordinate staff members. A part of this breakdown is to examine in practice who exercises which function in an insurance undertaking. The chapter wraps up by looking at whether key functions are performed in a centralized or decentralized organization.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2015-01-01 |