Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/161669
Authors: 
Siri, Michele
Year of Publication: 
2017
Series/Report no.: 
ICIR Working Paper Series 27/17
Abstract: 
Under Solvency II, corporate governance requirements are a complementary, but nonetheless essential, element to build a sound regulatory framework for insurance undertakings, also to address risks not specifically mitigated by the sole solvency capital requirements. After recalling the provisions of the second pillar concerning the system of governance, the paper is devoted to highlight the emerging regulatory trends in the corporate governance of insurance firms. Among others, it signals the exceptional extension of the duties and responsibilities assigned to the Board of directors, far beyond the traditional role of both monitoring the chief executive officer, and assessing the overall direction and strategy of the business. However, a better risk governance is not necessarily built on narrow rule-based approaches to corporate governance.
Subjects: 
Insurance
Corporate Governance
Board of Directors
Culture
Risk Management
Internal Controls
Principle of Proportionality
Regulation
EIOPA
Solvency
Guidelines
Document Type: 
Working Paper

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