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Recovery and Resolution Plans (RRP) Working Group

The RRP working group’s objective is to coordinate the development of a framework for actuaries, in both the life and non-life sectors, working to develop Recovery and Resolution Plans.

Objectives:

PRA’s Fundamental Rule 8 is for all UK insurance companies to have a resolution plan, As the PRA has stated that they do not currently intend to produce any guidance on what this might mean in practice.

The intention is that this working group will continue to develop a framework to help establish a common understanding of what an insurance company recovery and resolution plan should include as practice develops, including liaising with the GSII firms (for which there has to be a resolution plan), and how this fits with other requirements such as Stress and Scenario Testing.

The group will:

  • act as a means for actuaries who are working in this area to share ideas and information;
  • with the PRA, FCA and FSCS as is requested by them and will include representation from those groups if offered;
  • respond to any consultation papers that are issued on this and related subjects, typically by FSB, IAIS, EIOPA or PRA.  It will not include elements already covered under Solvency II or IAIS Comframe.

Membership:

Chair: Nick Dexter

Contact: Communities Manager

Presentations:

Reference Material:

Disclaimer: Whilst the material here has been prepared in good faith we cannot accept responsibility for any errors or omissions, or changes since the articles were originally written, and you should seek your own specialist advice as required.

Useful links:

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Start date
E.g., 26/09/2021
End date
E.g., 26/09/2021

Events calendar

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.