Search results for "directive"
showing 10 items of 308 documents
The Europeanization of Health Care Coverage Decisions: EU-Regulation, Policy Learning and Cooperation in Decision-Making
2013
The paper presents two cases of Europeanization in health policy – an area that has so far been viewed as hardly affected by European integration. We show that even in the less likely case of coverage decision-making, some traces of Europeanization can be found. This is possible because the Commission has a strong interest in further integration in this field and all other relevant actors have motives to at least engage in cooperation. Our first case deals with the EU’s transparency directive and shows that this has forced member states to establish formal decision-making procedures, but did not result in a harmonization of decision-making processes and institutions, which is why the Commis…
Fire risk sub-module assessment under solvency II. Calculating the highest risk exposure
2021
The European Directive 2009/138 of Solvency II requires adopting a new approach based on risk, applying a standard formula as a market proxy in which the risk profile of insurers is fundamental. This study focuses on the fire risk sub-module, framed within the man-made catastrophe risk module, for which the regulations require the calculation of the highest concentration of risks that make up the portfolio of an insurance company within a radius of 200 m. However, the regulations do not indicate a specific methodology. This study proposes a procedure consisting of calculating the cluster with the highest risk and identifying this on a map. The results can be applied immediately by any insur…
‘Senior Management’ of Insurance Undertakings
2015
This chapter treats the subject of senior management in insurance undertakings. This subject comes into view because this category appears in the nomenclature of the Solvency II Level 3 draft rules. This then leads to the question whether there is a fit-and-proper-review above and beyond the limits drawn in art. 42 of the Solvency II Directive, a question ultimately answered in the negative.
Own Risk and Solvency Assessment
2015
The own risk and solvency assessment under art. 45 of the Solvency II Directive forms the subject of this chapter. Initial attention is given to clarifying the role of ORSA in the insurance supervisory regime and the principles applicable to it. Then follows a discussion of the relationship of ORSA to the risk management function as well to the other key functions under the insurance supervisory regime. In conclusion, the chapter addresses, inter alia, the documentation, the public disclosure, and the supervisory powers involved in an ORSA procedure.
Integrating the Compliance Function into the Legal Department
2015
This chapter addresses a governance issue: whether it is permissible under the insurance supervisory regime of Solvency II for an insurance undertaking to merge its compliance function with its legal department. The Solvency II provisions in fact do not address the legal department of an insurance undertaking. But the tasks and powers of a legal department are in part the same as those of the compliance function under art. 46, para. 1 of the Solvency II Directive. The conclusion is thus: General insurance supervisory regime principles such as functional segregation and functional independence do not prohibit such a merger. Indeed, such a merger would seem to be advisable in many instances i…
Definition, Tasks and Legal Nature of the Compliance Function
2015
This chapter addresses the compliance function under art. 46, para. 1 of the Solvency II Directive. The first items to be addressed here are the normative bases of compliance under the insurance supervisory regime and its conceptual content. Then, the tasks and relevant requirements for compliance under the insurance supervisory regime are identified. The chapter concludes by examining the function of compliance under the insurance supervisory regime of the Solvency II system.
Definition and Holders of Key Functions
2015
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.
Supervisory Review Process
2015
This chapter addresses the legal outlining of the supervisory review process. There is an apparent contradiction between principles-based insurance supervision on the one hand and, on the other hand, legal certainty along with foreseeability of supervisory action under art. 36 of the Solvency II Directive. With this in view, the chapter next examines the objectives and subject matter of the supervisory review process, with particular scrutiny given to requirements relating to solvency and governance. The powers of supervisory authorities to remedy weaknesses and deficiencies are then taken up.
Note brevi a margine della proposta di riforma dei reati ambientali del gruppo di studio dell'associazione dei professori di diritto penale
2022
A partire dall’analisi della proposta di riforma dei reati contro l’ambiente elaborata dal Gruppo di studio dell’Associazione italiana dei Professori di Diritto Penale, il contributo riflette sui principali problemi teorici del diritto penale ambientale (tipizzazione dell’evento lesivo nelle fattispecie di inquinamento e di disastro ambientale, imputazione soggettiva dei delitti aggravati dall’evento, contrasto penale alle c.d. “ecomafie” nel settore dei rifiuti ecc.), mettendo a confronto le soluzioni suggerite nel testo con le prospettive di riforma contenute nella recente Proposta di Direttiva del Parlamento europeo e del Consiglio sulla Protezione dell’ambiente at- traverso il diritto p…
The Current European Normative Frame
2016
The rapid introduction of the normative frame on the European scale, both communally and nationally, follows the historical investigation presented in the first chapter of this dissertation, with a double purpose: to define the issues of the current debate on the one hand and to describe the state of the art on the other. Directive 2001/42/EC of the European Parliament and Council of 27 June 2001 concerning the assessment of effects of certain plans and programmes on the setting was officialised in July of that year, generating a wide range of experiences. It establishes a basic framework that should be adopted by the member states of the European Union. In the previous chapter, we showed t…