{"id":3025,"date":"2025-10-30T12:30:01","date_gmt":"2025-10-30T13:30:01","guid":{"rendered":"http:\/\/www.xinetica.com\/?p=3025"},"modified":"2025-10-30T14:28:18","modified_gmt":"2025-10-30T14:28:18","slug":"insurance-europe-call-for-pause-on-irrd-for-proportionate-regulation-and-eu-competitiveness","status":"publish","type":"post","link":"http:\/\/www.xinetica.com\/index.php\/2025\/10\/30\/insurance-europe-call-for-pause-on-irrd-for-proportionate-regulation-and-eu-competitiveness\/","title":{"rendered":"Insurance Europe call for pause on IRRD for proportionate regulation and EU competitiveness"},"content":{"rendered":"<p>Insurance Europe, the European insurance and reinsurance federation, calls for the European Commission to \u2018stop the clock\u2019 on the implementation of the Insurance Recovery and Resolution Directive (IRRD) legislative process.<\/p>\n<p><img loading=\"lazy\" class=\"alignright wp-image-15758 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"\" width=\"360\" height=\"240\" data-src=\"http:\/\/www.xinetica.com\/wp-content\/uploads\/2025\/10\/flag-2608475_640.jpg\">According to the organisation, this approach \u201cwill allow policymakers, EIOPA, and industry stakeholders to conduct a thorough impact assessment of what is truly necessary to protect policyholders and financial stability in relation to failing insurance companies.\u201d<\/p>\n<p>As currently drafted, Insurance Europe&#8217;s concern is that the IRRD places an excessive and unnecessary burden on European insurers.<\/p>\n<p>The proposed framework surfaces international benchmarks, introducing requirements that are considerably more intricate and expensive than those in other major jurisdictions.<\/p>\n<p>This situation threatens the competitiveness for EU insurers and contradicts recent European Council conclusions, which call upon the Commission and co-legislators to prioritise and expedite work on initiatives that enhance simplification and competitiveness, Insurance Europe explains.<\/p>\n<div class=\"reins-in-every-article\" id=\"reins-614739927\">\n<div style=\"margin-bottom: 15px\" class=\"alignnone size-full reins-target\" id=\"reins-355971316\" data-reins-trackid=\"184045\" data-reins-trackbid=\"1\"><a data-no-instant=\"1\" href=\"https:\/\/www.ascotgroup.com\/?utm_source=reinsurancenews&#038;utm_medium=display&#038;utm_campaign=reinsurancenews_display_fall_2025\" rel=\"noopener nofollow\" class=\"a2t-link\" target=\"_blank\" aria-label=\"Ascot Group\"><img loading=\"lazy\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"Ascot Group\" width=\"728\" height=\"90\" class=\"lazyload\" data-src=\"http:\/\/www.xinetica.com\/wp-content\/uploads\/2025\/09\/ascot-728x90-sep2025.jpg\"><\/a><\/div>\n<\/div>\n<p>The key concerns include:<\/p>\n<ul>\n<li>Disproportionate Requirements: The IRRD\u2019s extensive reporting and planning obligations are not commensurate with the insurance sector\u2019s low systemic risk.<\/li>\n<li>Limited impact on financial stability: Evidence shows that the insurance sector poses minimal systemic risk, and robust safeguards are ready in place through frameworks like Solvency II.<\/li>\n<li>Administrative burden and costs: The IRRD\u2019s board scope, aggressive timelines, and overlap with other initiatives risks overburdening insurers and ultimately raising costs for policyholders.<\/li>\n<li>International Disadvantage: Other jurisdictions have implemented more balanced, risk-based strategies, avoiding arbitrary thresholds and excessive reporting.<\/li>\n<\/ul>\n<p>Insurance Europe\u2019s proposed \u2018stop the clock\u2019 is described as a \u201cpractical example of smarter, more proportionate regulation needed to strengthen the EU\u2019s competitiveness.\u201d<\/p>\n<p>Angus Scorgie, Head of Prudential Regulation &amp; International Affairs, stated: \u201cThe insurance industry recognises the benefits of being well prepared for situations of severe financial distress.<\/p>\n<p>\u201cNevertheless, we remain sceptical of the IRRD\u2019s added value because the Solvency II prudential regime already provides extensive safeguards against the risk of a failing insurer which mitigate the need for far-reaching recovery and resolution tools. A stop-the-clock on the IRRD would give a welcome opportunity to simplify and rationalise, ensuring it meets its objectives without disproportionate burdens on European insurers.\u201d<\/p>\n<p>The post <a href=\"https:\/\/www.reinsurancene.ws\/insurance-europe-call-for-pause-on-irrd-for-proportionate-regulation-and-eu-competitiveness\/\">Insurance Europe call for pause on IRRD for proportionate regulation and EU competitiveness<\/a> appeared first on <a href=\"https:\/\/www.reinsurancene.ws\">ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurance Europe, the European insurance and reinsurance federation, calls for the European Commission to \u2018stop the clock\u2019 on the implementation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3025"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3025"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3025\/revisions"}],"predecessor-version":[{"id":3029,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3025\/revisions\/3029"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/3027"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3025"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}