Certified Solvency ii Equivalence Professional (CSiiEP) Distance Learning and Online Certification Program

Many non-EEA countries have announced significant enhancements to their solvency and disclosure regulations for insurance and reinsurance, to achieve recognition as having equivalent regulatory regime and standards to those described in the Solvency II Directive.

For secure payment we work with PayPal, the faster and safer way to make online payments. With PayPal we minimize the cost of administration and compliance with many national and international laws, regulations and privacy rules and we can keep the cost of the program so low.

Only PayPal receives your credit card number and your financial information. We only receive your full name, your email and your mail address. According to the PayPal rules, you have the option to ask for a full refund up to 60 days after the payment. If you do not want the program for any reason, all you have to do is send us an email and we will refund the payment, no questions asked. You can try our programs risk-free.

When you click "Buy Now" below, you will be redirected to the PayPal web site. Your payment will be received by our strategic partner and service provider, Cyber Risk GmbH (Rebackerstrasse 7, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH will also send certificates to all members that live outside the United States. Members living in the States well receive their certificates from out office in Washington DC.

The all-inclusive cost is $297.

 

What is included in the price:

A. The official presentations we use in our instructor-led classes (2,315 slides).

The 1,524 slides are needed for the exam, as all the questions are based on these slides.

The remaining 791 slides are for reference. These slides will help you understand important parts of the Solvency II framework.

You can find the course synopsis below.

B. Up to 3 Online Exams

There is only one exam you need to pass, in order to become a Certified Solvency ii Equivalence Professional (CSiiEP).

If you fail, you must study the official presentations again, but you do not need to spend money to try again. Up to 3 exams are included in the price.

To learn more about the online exam you may visit:

www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf

www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf

C. Personalized Certificate printed in full color

Processing, printing, packing and posting to your office or home.


Certified Solvency ii Equivalence Professional (CSiiEP)

Overview

Many non-EEA countries have announced significant enhancements to their solvency and disclosure regulations for insurance and reinsurance, to achieve recognition as having equivalent regulatory regime and standards to those described in the Solvency II Directive.

Objectives

This course has been designed to provide with the knowledge and skills needed to understand the Solvency ii Directive of the EU, and the extraterritorial application to non-EU countries

Target Audience

This course is intended for decision makers, managers, professionals and consultants that:

A. Work in Groups - Financial Conglomerates (FC), Financial Holding Companies (FHC), Mixed Financial Holding Companies (MFHC), Insurance Holding Companies (IHC) - providing insurance and/or reinsurance services in the EEA, whose parent is located in a non-EEA country.

B. Work in Groups - Financial Conglomerates (FC), Financial Holding Companies (FHC), Mixed Financial Holding Companies (MFHC), Insurance Holding Companies (IHC) - which include European Insurance or Reinsurance Subsidiaries and/or Branches.

C. Work in countries outside the EEA and want to understand not only the Solvency II Equivalence requirements, but also the challenges and the opportunities after the Solvency ii Directive.

About the Course

Introduction

  • The European Union’s Legislative Process
  • Directives and Regulations
  • The Financial Services Action Plan (FSAP) of the EU
  • Equivalence with the Directives of the European Union: An Overview
  • Why Equivalence?
  • Extraterritorial Application of European Law
  • Case Study 1: European Savings Tax Directive (ESD)
  • Case Study 2: The 8th Company Law Directive on Statutory Audit
  • Extraterritorial Application of the Solvency II Directive
  • Solvency ii and the Lamfalussy Process
  • Level 1: Framework Principles
  • Level 2: Detailed Technical Measures
  • Level 3: Strengthening Cooperation Among Regulators
  • Level 4: Enforcement
  • Weaknesses of Solvency I
  • From Solvency I to Solvency II
  • Solvency ii Players
  • Solvency ii Objectives

The Solvency II Directive

  • A Unified Legislative Basis for Prudential Regulation of Insurers and Reinsurers
  • Risk-Based Capital Allocation
  • Scope of the Application
  • Important Definitions
  • Value-at-Risk in Solvency II
  • Authorisation
  • Corporate Governance
  • Governance Functions
  • Risk Management
  • Corporate Governance and Risk Management - Level 2
  • Fit and proper requirements for persons who effectively run the undertaking
  • Internal Controls
  • Internal Audit
  • Actuarial Function
  • Outsourcing
  • Board of Directors: Role and Solvency ii Responsibilities
  • 12 Principles – System of Governance (Level 2)

Pillar 2

  • Supervisory Review Process (SRP)
  • Focus on Risk Management and Operational Risk
  • Own Risk and Solvency Assessment (ORSA)
  • ORSA - The Internal Assessment Process
  • ORSA - The Supervisory Tool
  • ORSA - Not a Third Solvency Capital Requirement
  • Capital add-on

Pillar 3

  • Disclosure Requirements
  • The Solvency and Financial Condition Report (SFC)

Pillar 1

  • Valuation Of Assets And Liabilities Technical Provisions
  • The Solvency Capital Requirement (SCR)
  • The Value-at-Risk Measure Calibrated to a 99.5% Confidence Level over a 1-year Time Horizon
  • The Standard Approach
  • The Internal Models
  • The Collection of Additional Historical Data
  • External Data
  • The Minimum Capital Requirement (MCR)
  • Non-Compliance with the Minimum Capital Requirement
  • Non-Compliance with the Solvency Capital Requirement
  • Own Funds
  • Investment Rules

Internal Model Approval

  • CEIOPS Level 2 - Tests and Standards for Internal Model Approval
  • CEIOPS Level 2 - The procedure to be followed for the approval of an internal model
  • Internal Models Governance
  • Group internal models
  • Statistical quality standards
  • Calibration and validation standards
  • Documentation standards

Solvency II, Group Supervision and Third Countries

  • Solvency I: Solo Plus Approach
  • Group Supervision under Solvency II
  • Dominant influence and significant influence - the new challenges
  • Identification and Appointment of the Group Supervisor
  • Professional Secrecy and Exchanges of Information
  • Supervisory Colleges - The Challenge for non-EU countries
  • Cooperation Agreements with Third Countries
  • Use of Confidential Information
  • Rights and duties of the group supervisor
  • Group Solvency - Methods of calculation
  • Method 1 (Default method): Accounting consolidation-based method
  • Method 2 (Alternative method): Deduction and aggregation method
  • Parent Undertakings Outside the Community - Verification of Equivalence
  • Parent Undertakings Outside the Community - Absence of Equivalence
  • The head of the group is in the EEA and the third country regime is not equivalent
  • The head of the group is in the EEA and the third country regime is equivalent
  • The head of the group is outside the EEA and the third country is not equivalent
  • The head of the group is outside the EEA and the third country regime is equivalent
  • Small and Medium-Sized Insurers: The Proportionality Principle
  • Captives and Solvency II
  • Own funds in undertakings located in non-EEA countries
  • Right of Establishment and Freedom to Provide Services
  • Conditions for Branch Establishment
  • Branches Established Within the Community
  • Principles and Conditions of Authorisation Equivalence
  • Subsidiaries of Insurance and Reinsurance Undertakings Governed by the Laws of a Third
  • Country and Acquisitions of Holdings by such Undertakings

Equivalence with Solvency II around the World

  • Solvency ii and Countries outside the European Economic Area
  • The International Association of Insurance Supervisors (IAIS)
  • The Swiss Solvency Test (SST) and Solvency ii:
  • Solvency ii and the Offshore Financial Centers (OFCs)
  • Solvency ii and the USA
  • Solvency ii and the US National Association of Insurance Commissioners (NAIC)

Solvency II and Special Purpose Entities (SPEs)

  • Special Purpose Vehicles - Solvency II Definition and Structure
  • The scope of authorisation
  • Pre-authorisation process
  • Supervisory responsibilities
  • National Discretions
  • Supervisory questions
  • SPVs used by more than one undertaking
  • Intra-group SPVs
  • Special Purpose Vehicles and Capital Relief
  • Mandatory conditions
  • Principle 1 – Fully Funded
  • Principle 2 – Investors have a subordinated claim on SPV assets
  • Principle 3 – Prudent person
  • Principle 4 – Effective risk transfer
  • Principle 5 – Non-recourse
  • Documentation requirements
  • Governance requirements
  • Accounting, prudential and statistical information requirements
  • Solvency requirements
  • Background details on SPV transactions
  • Non-EU SPVs

The Reinsurance Directive

  • Directive 2005/68/EC of 16 November 2005 on Reinsurance
  • The Reinsurance Directive (RID)

Closing

  • The Impact of Solvency ii Outside the EEA
  • Providing Insurance Services to the European Client
  • Competing with Banks
  • Learning from the Basel ii Framework
  • Regulatory Arbitrage: A Major Risk for Countries
  • Basel II, Solvency II and Regulatory Arbitrage
  • Challenges and Opportunities: What is next

Privacy and Compliance