A draft of the agenda for the 6th US / EU Insurance Symposium landed in my in-box a few days ago. I searched it keenly, looking for obvious references to the “Classified: EU restricted” US / EU Solvency II equivalence negotiations; or at least a public recognition that they’re in hand, and a commitment to finding a solution to this most crucial of issues before the end of the year (my previous blog is here).
Session II might just cut the mustard, but it’s keeping its update cards close to its equivalence chest. In fact, as currently described, it all sounds rather depressing: “The U.S. – EU Insurance Regulatory Dialogue Project now entering its fourth year, represents a publically [sic] confirmed commitment to build mutual understanding and bridges to acceptance of differing regulatory approaches which achieve similar prudential outcomes. This session will benchmark where progress is being made, what issues remain, and what needs to happen to create a win-win outcome for regulators and industry alike. Also Steering Committee members will be asked to project possible next steps beyond the five year agenda and discuss more concrete steps in confidence building such as staff exchanges and technology transfer. Finally, this session will touch on the much discussed plans to initiate negotiations on a covered agreement“. (Did your heart sink as you read that too?)
The #wheresdave leaders’ debate was on TV last night, so I spent a happy 45 minutes watching the debate and carrying out internet searches to see if I could find a final agenda for the symposium, some meaningful commentary about it, or something … anything … that might throw some light what to expect … and found almost nothing.
In fact, the only reference I could find to the 6th Insurance Symposium was on the Washington DC Events website, which (at least at the time of writing) is offering visitors an image of an open human chest and abdominal cavity, with the organs intact (phew!), together with the disappointing news that, so far, “no performers [are] listed” for this event, and “0 people” are tracking it; before showing me an advertisement for a product that will help me with heartburn and indigestion.
This, I suppose, would be funny, if it wasn’t quite so serious. I’m hoping for something better on the day.