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Proposal for a Directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132

This Directive requires EU insurance and reinsurance undertakings to create and maintain pre-emptive recovery plans to address scenarios of significant…

What Proposal for a Directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 requires

This Directive requires EU insurance and reinsurance undertakings to create and maintain pre-emptive recovery plans to address scenarios of significant financial distress, and establishes a harmonised framework for resolution authorities to manage failures in an orderly manner. The core requirement for undertakings is the development of a comprehensive recovery plan as mandated by Article 5.

Pillar: Insurance & Risk · Authority: European Commission · Version: 1.0.0 · Last updated:

Primary source: https://www.eiopa.europa.eu/browse/regulation-and-policy/insurance-recovery-and-resolution-directive-irrd_en

SHA-256 integrity: ebdfd2e418facc98e7a65599ed3552ea5d94cfb337945587a810f6410137ecf0

Primary Citations — 7 traced to source

  • Proposal for a Directive COM(2021) 582 final, Article 5: Recovery plans
  • Proposal for a Directive COM(2021) 582 final, Article 6: Recovery plan indicators

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