• EIOPA’s Opinion calls for a minimum harmonised and comprehensive recovery and resolution framework for (re)insurers to deliver increased policyholder protection and financial stability in the European Union
• Harmonisation of the existing frameworks and the definition of a common approach to the fundamental elements of recovery and resolution will avoid the current fragmented landscape and facilitate cross-border cooperation
• EIOPA proposes four building blocks for the minimum harmonised recovery and resolution framework, namely preparation and planning, early intervention, resolution as well as cross-border cooperation and coordination
• The harmonised recovery and resolution framework should be aligned with the Solvency II framework and be applied in a proportionate manner

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