NU Online News Service, April 23, 9:22 a.m.EDT
The European Parliament yesterday approved a Solvency IIagreement that would take effect in 2012, providing a broad legalframework strengthening insurer capital requirements andsupervision.
"It's quite a challenge for companies," according to JohnCharles, a principal with the Tillinghast insurance consultingbusiness of Towers Perrin in London, who said the new regulatoryregime will be a strong reason for greater emphasis on enterpriserisk management by insurance firms.
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