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26 March 2009 Supervision Supervision label Factsheet

The EIOPA[1] guidelines on Preparation for and Management of a Financial Crisis provide guidance for supervisory authorities participating in Coordination Committees (Co-Cos).

Pursuant to the Insurance Groups Directive (IGD), the Helsinki Protocol states that cooperation among insurance supervisory authorities should be facilitated through the organisation of Coordination Committees (Co-Cos).
Guidelines have been prepared which serve as a tool for supervisors participating in the Co-Cos. These Co-Co Guidelines include a chapter 4.2 about crisis situations.

Basis

Insurance Groups Directive (IGD) (98/78/EC)

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[1] The European Insurance and Occupational Pensions Authority (EIOPA) has officially come into being as of 1 January 2011 and has taken over all existing and ongoing tasks and responsibilities from the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).