An Introduction to Solvency II Training Course

Solvency II introduced a new, harmonised EU-wide insurance regulatory regime. This course will enable your employees to familiarise themselves with, and better understand Solvency II.

"Solvency II sets out regulatory requirements for insurance firms and groups, covering financial resources, governance and accountability, risk assessment and management, supervision, reporting and public disclosure."

 

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Introduction to Solvency

About this Course

Available as part of our FCA and Insurance Course Library.

Learning Objectives

This course will prepare you to:

  • Understand what Solvency II is
  • Identify the three separate "pillars" that comprise Solvency II
  • Be familiar with the main features of Pillar 1 - Capital requirements
  • Be familiar with the main features of Pillar 2 - Risk management, governance and supervisory review
  • Be familiar with the main features of Pillar 3 - Reporting and disclosure

Course Outline

Welcome

Pillar 1 - Capital requirements

Basic own funds

Ancillary own funds

Minimum Capital Requirement (MCR)

Solvency Capital Requirement (SCR)

The 'use test'

- Scenario 1 

Quality of capital

The 'ladder of intervention'

Pillar 2 - Risk management, governance & supervisory review

Risk management

Own Risk and Solvency Assessment (ORSA)

- Own Risk and Solvency Assessment (ORSA)
- ORSA policy

System of governance

Fit and proper requirements

Internal control

Key functions

- Scenario 2

Pillar 3 - Reporting and disclosure

Summary

Affirmation

Assessment

Course Specifications

 

Structure

Structure

Approximately 30 minutes followed by a 10-question assessment.

Audience

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via client style sheet.

Compatibility

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Tailoring

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

FCA Course Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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