Insurers count cost as supervisors embrace RRPs
Recovery and resolution plans are catching on as a regulatory tool for domestic as well as international regulation. The burden for insurers might be less than they feared, although the industry remains sceptical about parts of the process
Insurers are beginning to face pressure from domestic regulators to draw up recovery and resolution plans like those required at global level, but experts say the exercise will be - and should be - less painful than feared.
The moves come nearly two years after the Financial Stability Board (FSB) ordered global systemically important insurers (G-Siis) to draw up recovery and resolution plans (RRPs), laying out their ability to survive stresses and a plan for orderly wind-down when recovery is
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