Karel‘s Club – Executive Networks
Insurance Forum for Insurance Executives, Regulators and Academia
The Idea behind Karel´s Club
In cooperation with the International Center for Insurance Regulation (ICIR), Goethe Business School established Karel's Club in 2013 as an Executive Insurance Forum. Its intention is to strengthen the trilogue between insurance executives, regulators and academia. The wider objective is to enable thoughtful and provocative discussions which take into account how the European and international regulations agenda will affect the business models of insurance companies.
Karel´s Club meetings address senior management from the insurance industry, academia and representatives of the regulatory community who want to prepare themselves for the challenges ahead in the insurance sector.
“Good Governance: Myth Or Reality?”, March 8 - 9, 2016
Solvency II follows the three pillar approach introduced by Basel II, whereby the first pillar deals with quantitative issues, such as the capital requirements and the valuation rules, the second pillar with qualitative issues, such as governance and supervisory action and the third pillar contains the requirements concerning public disclosure and supervisory reporting.
The fifth meeting of the Karel’s Club will look at corporate governance from different angles, benefiting from the input of a number of key experts in the field. We will discuss governance in general but will also deal with each of the key governance functions and their interrelationship. The discussion will focus on issues such as:
- Is it helpful for the law to set governance requirements?
- How to ensure that the persons occupying key governance functions are fit and proper?
- What are the practical implications of the new governance requirements for the structure of the board?
- To what extent should the key governance functions be independent from each other?
- What is the meaning of the internal audit function when it is (exceptionally) combined with other governance functions?
- How helpful are the new governance requirements for supervisors? Are supervisors likely to change their behavior towards the supervised entities as a result of the new governance requirements?
- Is there a risk that supervisors and/or insurance and reinsurance undertakings will treat the new governance requirements as a tick the box exercise?
- Are there many examples in practice of cases where supervisors have accepted an adaptation of the governance requirements to the nature, scale and complexity of the insurance or reinsurance undertaking?
- What is the interplay between the governance requirements at solo level and the governance requirements at group level?
- Are the governance requirements on board diversity introduced in the banking sector also applied in practice in insurance or reinsurance undertakings?
- Are there any examples of “gold plating”, i.e. of cases whereby national laws implementing Solvency II have added further governance requirements to those following directly from Solvency II?
We have been able to set up an attractive program with excellent speakers, who will develop various aspects of the main theme.
For detailed information about the agenda, speakers and fee please download the brochure.