The Insurance Recovery and Resolution Directive: A Commentary

This comprehensive Commentary explains the objectives of the Insurance Recovery and Resolution Directive (IRRD) and its crisis management structure as applicable to the EU (re)insurance sector. It provides an in-depth discussion of the mechanisms and tools that Member States will be required to implement, outlining the fundamental considerations for the transposition and practical application of individual provisions.

Key Features:

• Identifies potential challenges, regulatory gaps, and emerging national issues
• Equips the reader with a thorough understanding of recovery and resolution planning and execution
• Offers practical explanations and suggestions in relation to crisis management in the (re)insurance market
• Explores the way in which the IRRD is to be applied and its potential to reshape supervisory expectations, corporate accountability, and strategic planning in the insurance sector
• Draws comparisons with other regulatory regimes – such as the EU banking recovery and resolution framework - to highlight cross-sectoral insights and demonstrate how the IRRD fits into the broader regulatory agenda for financial resilience in the EU

Written by experts in the field and combining rigorous legal analysis with practical observations, this Commentary is a vital resource for national authorities responsible for implementing the IRRD, as well as financial safety-net institutions such as supervisory authorities, resolution bodies, guarantee schemes, and central banks. It also offers accessible guidance to a wide professional audience, including insurance practitioners, legal advisors, compliance officers, consultants, and scholars interested in financial regulation, governance, and risk management.

Edited by Pierpaolo Marano, Professor, University of Malta and University of Latvia, and Associate Professor, Catholic University of the Sacred Heart, Italy and Magdalena Kozińska, Assistant Professor, Institute of Banking, Warsaw School of Economics, Poland