FRANKFURT (Reuters) – The European Union's powerful insurance watchdog EIOPA on Friday blasted stagnant political talks to finalise new risk capital rules for the insurance sector, saying delay was undermining EU credibility internationally.
The rules, known as Solvency II, are aimed at better protecting consumers by forcing sweeping improvement in insurers' risk management systems and capital strength.
But the regulation is now stuck in talks between the Commission, the European Parliament and EU national governments.
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