This online course addresses actual issues in insurance supervision and risk management in insurance companies. We are building the course upon risk-based supervision as a critical element of Solvency II Directive. We will discuss the directive and implementation experience in national environments. During the course, we will cover actual issues in risk assessment process and conduct of business supervision. We will dedicate our time also upon stress testing exercises conducted in the insurance sector 

To make the course addressing most relevant issues connected with the topic, we will leave room to discuss actual challenges of participating institutions. Therefore, we expect active participant engagement.

The course is designed as a combination of online meetings with presentations, interactive discussions, as well as a short homework assignment for the participants. We will meet live at 4 online webinars of 1.5 hour each (October 29 at 2 PM CET, November 2 at 10 AM CET, November 5 at 2 PM CET, and November 9 at 2PM CET). Learning materials and other references will be available at all times during the duration of the online course at the CEF Online Learning Campus. We will be also collecting questions and comments throughout the 2 weeks and address them at the webinars.

Who should attend

The online course is designed for regulators and supervisors of insurance markets as well as their counterparts at ministries of finance working on financial sector regulation. Other interested supervisors from financial supervisory authorities are welcome to apply as well.

Faculty

• Peter Windsor, Senior Financial Sector Expert, International Monetary Fund

Peter has joined the IMF as an insurance expert in the Financial Supervision and Regulation Division of the Monetary and Capital Markets Department (MCMFR). He is involved in Financial Sector Assessment Programs (FSAPs), technical assistance, research and policy analysis, technical advice, focusing on insurance-related prudential, and conduct-of-business regulation and supervision. 

Before joining the IMF, he worked at the IAIS where he was involved in a project on Common Framework for the Supervision of International Active Insurance Groups, supporting its field-testing task force, which was working closely with the Higher Loss Absorbency Drafting Group (HLADG) in the development and testing of a Basic Capital Requirement. Prior to that, Peter was working in the Australian Prudential Regulation Authority (APRA) where among other he also led the general insurance team in APRA’s policy development branch.

Peter holds a BA of Commerce, Accounting, and Finance from the University of Queensland, where he also graduated from Advanced Accounting, Accounting, and Finance. Further on, he acquired a graduate degree in Applied Finance and Investment as well as an MBA from the Macquarie Graduate School of Management.

• Bernhard Mayr, independent insurance expert

Bernhard has been working as an independent insurance expert since August 2019. He was a member of the FSAP team in Norway and participated in several technical assistance missions on risk based insurance supervision and regulation in East Africa and Bolivia. Before that, he was a senior policy advisor at the International Association of Insurance Supervisors (IAIS) for six years, mainly supporting projects on financial stability related topics. Before joining the IAIS, he was a financial regulator at the Austrian and UK authorities, with a dual role as economist and policy maker (Solvency II). In these roles, he was the vice-chair of  EIOPA’s financial stability committee and the group lead on several Solvency II work streams.

Bernhard holds Masters in Economics and Commerce from the Vienna University of Economics and Business and a Doctorate from the University St. Gallen in Switzerland.

• Karel Van Hulle, Prof. em. KU Leuven and Hon. Prof. Goethe University Frankfurt, Member of the PIOB Member of the Board of the Bermuda Monetary Authority

Prof. Karel Van Hulle lectures at the Economics and Business Faculty of the KU Leuven and at the Economics Faculty of the Goethe University in Frankfurt. He is also a member of the Public Interest Oversight Board and of the Board of the Bermuda Monetary Authority.

He served as Head of Insurance and Pensions at the European Commission 2013, where his main task was the development of the new risk-based solvency capital regime for (re-)insurers, Solvency II. He represented the EC within EIOPA and was a member of the Technical Committee of the International Association of Insurance Supervisors (IAIS). Before becoming Head of Insurance and Pensions in 2004, he was responsible for Accounting, Auditing, and Company Law at the EC. Prior to joining the EC, he served in the Belgian Banking Commission.

Karel studied law at the KU Leuven and at the Marquette University Law School in Milwaukee (Wisconsin). He was also nominated Distinguished International Lecturer in Accounting by the American Accounting Association in 1990, Distinguished Fellow of the IAIS by the International Association of Insurance Supervisors in 2013 and Honorary Fellow of the UK Institute and Faculty of Actuaries in 2014. In December 2014, he was nominated Honorary Professor at the Goethe University in Frankfurt, where he also serves as executive member of the Board of the International Centre for Insurance Regulation.

• Niko Erker, Deputy Director, Insurance Supervision Agency of Slovenia (AZN)

Niko Erker, certified actuary, has been a Deputy Director and a Head of Section for Analysis and Internal affairs since June 2019. He is also a member of The Financial Stability Board. He joined AZN in the year 2000 and since then he has been responsible for the supervision of insurance products and for the supervision of the (re)insurance undertakings in Slovenia. He was involved in a series of quantitative impact studies prepared by CEIOPS/EIOPA to test the implications and impact of the different alternatives under scrutiny.

He holds a Bachelor degree of mathematical science from the University of Ljubljana and he finished the postgraduate study of Actuaries at the University of Ljubljana.

• Mojca Rome, Insurance Supervision Agency of Slovenia (AZN)

Mojca Rome, certified actuary, joined the AZN in 2000. Since then, she has been responsible for the supervision of life and pension insurance products and for the supervision of the insurance undertakings and institutions for occupational retirement provision in Slovenia.

She was a member of a team who prepared legislative proposals for changes of the Insurance Act including secondary legislation. She was many times nominated in a team of experts who prepared change and new Pension and Disability Act of Slovenia as regards the regulation of supplementary (occupational) pension insurance business in Slovenia. Mojca Rome has been also very active in CEIOPS Occupational Pension Committee since its early beginnings as well as in EIOPA OPC now ENW 7. Since September 2019 she is the alternate member of Board of Supervisors at EIOPA and since September 2020 member of Advisory Committee on Proportionality at EIOPA. Before joining AZN, she worked as an actuary at Supplementary Pension Fund and at Nova Ljubljanska Banka in information technology sector.

She holds a Bachelor degree of mathematical science from the University of Ljubljana, where she finished her postgraduate study of Actuaries.

Partners

This learning initiative was supported by: