European Solvency II law book – 2016 edition
ICODA’s partner Lieve Lowet worked the last months on the forthcoming new Solvency II law book. This new edition provides an invaluable instrument for insurance practitioners, consultants, academics, researchers, students, the legal profession as well as for policy makers, lawmakers, regulators and supervisors. It can also function as the basic practical instrument for all insurance sector lobbyists, as Commissioner Hill announced a review of Solvency II before 2018 at the latest. How else could one suggest improvements to a review if the total legal picture is unclear?
Lieve started this initiative in 2012. In the post Lisbon era, the European legislative framework in the financial sector would no longer exist of a few core regulations and/or directives (Level 1). Instead, it would increasingly be made up of framework directives, delegated regulations, technical standards (Level 2) and if need be, guidelines from the ESAs (Level 3). This is exactly what happened. In the area of insurance, the Solvency II framework, based on a directive proposed in 2007, now consists of more than 900 pages of Level 1, Level 2 and Level 3 text, without even counting the technical annexes with the reporting formats.
A third edition of the European Solvency II law book had to see the light. Whereas the framework directive is applicable as of 1 January 2016, the latest changes to the main Delegated Regulation were only published in the Official Journal on 1 April 2016. Thus, this edition adds to the coordinated Level 1 legislative texts the coordinated version of the new non-legislative Level 2 texts issued since 2014, incorporating the most recent changes. The Guidelines, issued by EIOPA and addressed to the national competent authorities on a comply or explain basis, have also been included to make the compilation practical and complete.
Lieve Lowet partnered with Anne Knops, Knopsbooks.com (well before the Commission adopted its Digital Single Market strategy) to assure a comprehensive overview of the final texts of the total Solvency II project and to publish a tailor-made European Solvency II law book. Knopsbooks.com was launched in 2008 as a response to the fast-changing multimedia publishing environment for legal and tax professionals to set out to offer user-friendly and personalised law books.
The Solvency II book is available not only in paper (folio) but also as e-book, downloadable on PC, Mac, iPad or iPhone. The first edition was issued in four languages, English, French, German and Dutch. The second edition of May 2014 was issued in English, with a private French edition*.
Should you be interested in a ‘private edition’ for your clients, staff or students, we are happy to provide you with a tailor-made proposal.
by Lieve Lowet
*A private edition is a limited edition (minimum 50) for a particular organisation or undertaking.