NU Online News Service, Feb. 23, 2:40 p.m. EST
With Solvency II scheduled to come into force Jan. 1, 2013, U.S. companies must prepare for changes in capital position, enterprise risk management, product strategy, resources, risk culture and technology, according to a Deloitte study.
While Solvency II is a European Union initiative, the report, "Solvency II from a U.S. perspective," by Howard Mills, director and chief advisor, Insurance Industry Group, Deloitte, notes that insurers globally are expected to feel the directive's impact.
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