Solvency II inconsistencies put pet insurance on uneven footing
Pet insurance is a growing part of the non-life market, but inconsistent Solvency II classifications mean identical risks can attract very different capital requirements – a disparity that Catherine Drummond, partner at LCP, warns could shape competitiveness as the sector expands.
Solvency II was intended as a single rulebook for European insurers. In broad terms it achieved that objective, but in practice there are areas where interpretation differs. Pet insurance is one
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