Preparatory guidelines give a clear path to Solvency II for the list of required policies. Existing policies need to be revised for Solvency II. There may be additional documentation for procedures and processes from Level 2 in addition to written policies from Level 1.
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Breakfast Briefing 17: Solvency II: Governance and Policies: Preparatory Guidelines leading into Solvency II
Mike Claffey discusses preparatory guidelines leading into Solvency II.