Towers Watson: Skimping on QIS5 threatens Solvency II

From Post Online:

Risk management consultancy Towers Watson has warned that insurers may be “cutting corners” in their approach to the Solvency II’s QIS5 exercise.

According to research by Towers Watson, more than half of UK insurers are underestimating the time it will take to conduct the exercise effectively.

In addition, the study revealed that only 7% of insurers were definitely planning to publish their QIS5 results, with 58% saying that they were not intending to publish. The remaining 35% said they would publish results only if peers did so first.

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