News

SAI Response to the Department of Finance on the Consultation on Development of a National Resolution Framework for (Re) Insurers (Sept 2021)

Response to Public consultation on enhancing and reforming the Personal Injuries Assessment Board (PIAB)

The Society has made a Submission to the Department of Finance on the Public Consultation on Climate Change and Insurance in the context of the "Climate Action Plan 2019 to Tackle Climate Change Breakdown.

You can read the Society's Submission here.

The Society has issued responses to the following Central Bank of Ireland Consultation Papers:

The Society recently submitted a response to the Central Bank of Ireland Consultation Paper (CP114) on Amendments to the Non-Life Insurance (Provision of Information) (Renewal of Policy of Insurance) Regulations 2007.

The response is available to read on our website here https://web.actuaries.ie/press/submissions

The Society of Actuaries in Ireland has told the ‘Oireachtas Committee on Finance, Public Expenditure & Reform, and Taoiseach’ that evidence-based research is vital to underpin informed policy-making on the costs of motor insurance. 

The full Press Release, including speaking notes, is available here.

The European Insurance and Occupational Pensions Authority (EIOPA) published today a potential macroprudential approach to the low interest rate environment in the Solvency II context.
The aim of this publication is to contribute to the discussion on the possible need to develop a macroprudential framework in the insurance sector to promote financial stability in a Solvency II environment.
 
The following three objectives to be targeted by supervisory authorities in the current low interest rate environment are addressed:

The Central Bank of Ireland has published a feedback statement on Consultation Paper 92 Domestic Actuarial Regime and related Governance Requirements under Solvency II.

The consultation period closed on 29 May 2015.

The International Actuarial Association (IAA) is pleased to announce the publication of the paper “Deriving Value from ORSA - Board Perspective” developed by the Joint ORSA Subcommittee of the IAA’s Insurance Regulation and Enterprise and Financial Risk Committees.

The Minister for Justice and Equality, Frances Fitzgerald TD, has published the heads and general scheme of the Civil Liability (Amendment) Bill. The bill will introduce a new model of Periodic Payment Order whereby a Court could decide that catastrophically injured people can receive the cost of future care in the form of index-linked annual payments instead of a lump sum award which is what people must rely on under the present system.

A full press release is available to view here

The Society has responded to the Central Bank of Ireland’s (“the Central Bank”) Consultation Paper 89. This consultation paper sets out proposals in relation to reporting templates which the Central Bank deems necessary to address requirements specific to the local market and/or the nature of insurance undertakings supervised in Ireland and which are not catered for in the set of Solvency II harmonised reporting templates being developed by the European Insurance and Occupational Pensions Authority (EIOPA).