Second Regional Meeting of Supervisors of Insurance Markets of Central, Eastern and South Eastern European Countries

The Albanian Financial Supervisory Authority in cooperation with the Hungarian Financial Supervisory Authority, held on 10 -11 October in Tirana, the second regional meeting with the Supervisors of Insurance from Central, Eastern and South Eastern Europe. 

This initiative brings together the insurance supervisory authorities from Central, Eastern and South-Eastern Europe with the aim of fostering multilateral collaboration and cooperation between supervisors from CESEE Countries, and was initiated in April 2011, by the Austrian Financial Market Authority (FMA of Austria) in cooperation with the Hungarian Financial Supervisory Authority (HFSA).The meeting had a wide presence from homologue supervisory authorities from Albania, Austria, Hungary, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia and Slovakia. Special attention was given to issues such as ‘claims reserving’, ‘distribution of insurance – intermediaries’, ‘the role of actuary in the supervisory authority’, ‘fit&proper tests and the problems behind’ as well as ‘information exchange on insurance specific consumer risks’.