Claims club: Claims teams must gear up to provide Solvency II documentation and evidence
Claims handlers are not exempt from the Solvency II requirements, according to Lloyd’s boss Luke Savage. The finance, risk management and operations director warned attendees that claims teams would have to ensure their documentation, technical provision and service providers were in line with the European Union’s regulations.
The first issue, he explained, is documentation and evidence: “With Pillar 2 of the regulation — governance and controls — you have to document a substantial amount including structures, policies and
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