Belgium: Detailed Assessment of Observance of Insurance Core Principles
May 24, 2013
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The Belgian insurance industry was adversely affected by the global financial crisis and continued to confront challenges related to legacy assets and economic uncertainties in Europe. The Belgian authorities have made significant progress in updating the insurance regulatory regime and supervisory practice. The updated regulatory framework has a high level of observance with the Insurance Core Principles (ICPs), supported by robust prudential supervision. The authorities are advised to review current conduct-of-business (CoB) regulation and supervision to strengthen the protection for policyholders.
Subject: Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Internal controls, Legal support in revenue administration, Revenue administration, Solvency
Keywords: corporate governance, CR, Europe, Global, Insurance, Insurance companies, insurance group, interest rate, Internal controls, ISCR, Legal support in revenue administration, NBB organic law, NBB statute, risk management, senior management, Solvency
Pages:
112
Volume:
2013
DOI:
Issue:
134
Series:
Country Report No. 2013/134
Stock No:
1BELEA2013004
ISBN:
9781484384466
ISSN:
1934-7685
