Washington, DC, November 18, 2008 --(PR.com
)-- “The first website (www.own-risk-and-solvency-assessment.com) is about the major Pillar II challenge, the Own Risk and Solvency Assessment (ORSA). This is the entirety of the processes and procedures employed to identify, assess, monitor, manage, and report the short and long term risks a (re)insurance undertaking faces or may face - and to determine the own funds necessary to ensure that the undertaking’s overall solvency needs are met at all time,” said George Lekatis, General Manager and Chief Compliance Consultant of Compliance LLC, president of the Solvency ii Association (www.solvency-ii-association.com).
George is mathematician, IT and risk expert, and holds numerous certifications. He is an internationally acclaimed trainer and consultant, and has more than 17,000 hours of teaching experience, leading classes from the States to the Cayman Islands, to Bermuda, to London, to Dubai, to Singapore.
"The second website (www.minimum-capital-requirement.com) is about the Minimum Capital Requirement. According to the Solvency ii Directive, when the amount of eligible basic own funds falls below the Minimum Capital Requirement, the authorisation of insurance and reinsurance undertakings should be withdrawn, if those undertakings are unable to re-establish the amount of eligible basic own funds at the level of the Minimum Capital Requirement within a short period of time," continued George.
"The third website (www.solvency-capital-requirement.com) is about the Solvency Capital Requirement. According to the Solvency ii Directive, The Solvency Capital Requirement reflects a level of eligible own funds that enables insurance and reinsurance undertakings to absorb significant losses and that gives reasonable assurance to policyholders and beneficiaries that payments will be made as they fall due.
"The fourth website (www.risk-management-insurance.com) is about Risk Management in the Insurance and Reinsurance sectors. Insurance Risk Identification, Analysis, Quantification and Management are very important parts of every Solvency ii project. Solvency II adopts an economic risk-based approach which allows for a system that reflects the true risk profile of insurance and reinsurance undertakings.
"The fifth website (www.solvency-ii-training.com) is about Solvency ii Training. Courses and presentations designed to provide with the knowledge and skills needed to understand and support compliance with the Solvency ii and the Reinsurance directives of the European Union. The implementation of the Solvency II regime can benefit greatly from the experience and lessons learned during the Basel II projects in the world.
"The Solvency ii Association offers Certified Training and Solvency ii Certifications," continued George. "The Solvency ii Association develops and maintains a compendium of Solvency ii related risk and compliance topics. Subject matter experts review and update this body of knowledge." The Association offers two Solvency ii certifications:
A. Certified Solvency ii Professional (CSiiP)™ for professionals working in the EEA countries
B. Certified Solvency ii Equivalence Professional (CSiiEP)™ for professionals working in non-EEA countries
The Solvency ii Association offers two certified training courses:
A. Certified Solvency ii Professional (CSiiP)™: Preparing for the Solvency ii Directive of the EU - Prep Course (3 days)
B. Certified Solvency ii Equivalence Professional (CSiiEP)™: Preparing for Equivalence with the Solvency ii Directive of the EU - Prep Course (3 days).
Understanding the Solvency ii and the Reinsurance directives of the EU, and their extraterritorial application to non-EU countries.
Instead of training, you can have more
1. Training - First you need to learn.
2. Certification - Second, it is good to be certified by the Solvency ii Association.
If you pass the exam, you will be entitled to use the one or both designations:
"Certified Solvency ii Professional (CSiiP)"
"Certified Solvency ii Equivalence Professional (CSiiEP)"
As a certified professional, you are entitled to write about your certification(s) in your CV, resume, web site, using the name and the logo of the association.
After their certified training class, you may sit for the CSiiP and/or CSiiEP exam at no extra cost (up to 3 times).
3. Association - Third, you will become (at no cost) a member of the Solvency ii Association, to stay current with new developments in the Solvency ii directive, technical measures and implementation around the world (www.solvency-ii-association.com).
You will continue to learn, month after month.
"As members in the Solvency ii Association, you are entitled to write about your membership in your CV, resume, web site, using the name and the logo of the association," continued George.
About the Solvency ii Association
Membership to the Solvency ii Association indicates your professional values and aspirations and signifies that you are dedicated to international standards and best practices in compliance.
Conferences, networking opportunities and training seminars are absolutely important. We are constantly negotiating special services and discounts for members. As a community, we may have the opportunity for preferred pricing on products and services. These include books and educational products, discounts on business services, conferences and travel expenses, and access to products at exclusive member pricing.
Membership in the Solvency ii Association means that you are a professional who cares, learns, and belongs to a global community of compliance professionals. At every stage of your education, training, and career, their association provides networking, training opportunities, information and services you can use.
15+ of the best headhunters of the world are members of their association and add the members in their database, so you may have new opportunities.
Membership is free.
You will find more at: www.solvency-ii-association.com
For further information, you may contact
President of the Solvency ii Association