In her opening speech, ELI President Christiane Wendehorst underlined the importance of the area of insurance law, with the Insurance Law SIG having the potential to become a focal point in Europe for issues connected to it. She sincerely thanked the Chairs of the SIG for their work on the launch of the Conference and their willingness to serve the SIG.

SIG Co-Chair, Helmut Heiss, pointed out that insurance law is heavily Europeanised and therefore deserves attention at a European level. The SIG, which aims at providing an active forum for discussion and cooperation, reviewing relevant legal developments, conducting and facilitating research, making recommendations and providing practical guidance in the field of insurance law, would like to focus on different topics in the future, including governance and supervisory law, international liability law and insurance distribution. Participants agreed that it would be beneficial for the SIG to cooperate with other partners (including non-European stakeholders and experts from other legal fields) and to establish subgroups dealing with different aspects of insurance law. Further cooperation with different national stakeholders will be considered.

During the Conference, participants held fruitful discussions on the system of governance according to Solvency II, the implementation of key functions of insurance undertakings in the EU, the internal control system, the effectiveness of the compliance function in the light of practical experiences as well as the needs of the insurance industry and the expectations of the supervisory authorities with regard to outsourcing.

More information on the event is available in the agenda. To join the SIG, please register here.