Supervising and monitoring

Among other responsibilities, the law mentions that the board has to supervise and monitor the operation. Broadly speaking, this means establishing a working compliance tools like code-of-conduct, compliance policies, the use of (company) standards, well-defined responsibilities in the organization, sufficient reporting, etc.

Information about insurance companies and an analysis of the main differencies helps to show

  • sufficient care, skill and effort on monitoring
  • understanding of the risks involved
  • consistency with policyholders
  • disciplined and transparent way of operation