They had to choose between saving insolvent banks largely "as is" in the short-term, or unleashing economic chaos. Recovery and Resolutions Plans (RRPs) are supposed to stop such a dilemma arising again.
At the end of April 2013 The Financial Stability Board (FSB) in consultation with The International Association of Insurance Supervisors (IAIS) are planning to designate "Globally Systemically Important Insurers" (G-SIIs) which, like their bank equivalents, will be required to produce RRPs.
Based on Oliver Wyman's work for banks on this topic, as well as our recent work for insurers and with The Geneva Association, our latest article, Recovery and Resolution Plans for Insurers, examines the lessons learned from banks' experiences and how insurers can lead the debate in the development of RRPs.
