On 1 December 2014, EIOPA published an Opinion (dated 24 November 2014) on Sound principles for Crisis Prevention, Management and Resolution preparedness of National Competent Authorities (NCAs) in the insurance sector. The Opinion sets out 14 principles that NCAs are expected to take into account when reviewing and developing their crisis prevention/management/resolution frameworks for the insurance sector. The principles relate to matters including (a) crisis prevention/management groups within NCAs, (b) developing emergency, recovery and resolution plans, (c) early warning systems, (d) identifying triggers for intervention and performing crisis exercises, (e) cooperation and information sharing among NCAs and (f) sources of resolution funding.