There is currently no statutory resolution framework for UK insurers, similar to the UK framework for banks. HM Treasury is therefore increasingly concerned that existing processes available to assist struggling insurers are insufficient and do not allow authorities to act swiftly to stabilise failing entities and minimise potential risk.
In this Hot Topic:
- Key recent developments
- What does it mean for pension scheme trustees?
- When would these powers apply?
- How likely is resolution to apply to any given insurer?
- When will the IRR come into effect?
Read our hot topic here.
