The Insurance Recovery and Resolution Directive

A Commentary

Pierpaolo Marano, Magdalena Kozińska (Herausgeber)

Buch | Hardcover

692 Seiten

2026
Edward Elgar Publishing Ltd (Verlag)
978-1-0353-4894-7 (ISBN)

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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

Contents
P�r�e�f�a�c�e� �xxvi
PART I SUBJECT, SCOPE OF IRRD AND RESOLUTION AUTHORITIES
1 Subject and scope of the IRRD (Arts. 1–2) 2
D�a�g�m�a�r�a� �W�i�e�c�z�o�r�e�k�-�B�a�r�t�c�z�a�k� �a�n�d� �M�a�g�d�a�l�e�n�a� �K�o�z�i�ńs�k�a� �
2 Resolution authorities (Arts. 3, 90) 19
D�a�g�m�a�r�a� �W�i�e�c�z�o�r�e�k�-�B�a�r�t�c�z�a�k� �a�n�d� �M�a�g�d�a�l�e�n�a� �K�o�z�i�ńs�k�a� �
PART II RECOVERY AND RESOLUTION PLANNING
3 Simplified obligations (Art. 4) 38
M�a�łg�o�r�z�a�t�a� �Z�a�l�e�s�k�a� �
4 Pre-emptive recovery plans (Arts. 5, 7) 45
P�i�o�t�r� �W�r�z�e�s�i�ńs�k�i� �
5 Review and assessment of recovery plans (Arts. 6, 8) 64
D�a�r�i�a� �R�i�n�g�w�e�l�s�k�a� �
6 Resolution plans (Arts. 9–11) 74
M�a�g�d�a�l�e�n�a� �K�o�z�i�ńs�k�a� �
7 Information for the purpose of resolution planning (Arts. 12, 93–94) 96
A�u�g�u�s�t�i�n� �T�i�g�n�e�r�e�s� �
8 Resolvability assessment (Arts. 13–14) 110
M�a�a�r�t�e�n� �v�a�n� �C�a�m�p�e�n�h�o�u�t� �
9 Impediments and removal of impediments to resolvability (Arts. 15–16) 123
M�a�a�r�t�e�n� �v�a�n� �C�a�m�p�e�n�h�o�u�t� �
10 Joint decisions for the purpose of recovery and resolution planning (Art. 17) 134
I�w�o�n�a� �S�z�c�z�ęs�n�a�
PART III RESOLUTION INITIATION
11 Resolution objectives (Art. 18) 146
Krzysztof Budzich and Magdalena Kozińska
12 General conditions for initiating resolution (Art. 19) 155
Małgorzata Zaleska
13 Conditions for resolution with regard to parent undertakings and holding companies (Art. 20) 165
Vincent Jamet
14 Proceedings in respect of undertakings that are not subject to resolution action (Art. 21) 170
Vincent Jamet
15 General principles governing resolution (Art. 22) 174
Vincent Jamet
PART IV VALUATION IN RESOLUTION
16 Valuation in resolution (Arts. 23–25) 183
Arjen Prinsen
PART V RESOLUTION TOOLS
17 General rules on resolution tools (Arts. 26, 88–89) 207
Monica Marcucci
18 Solvent run-off (Art. 27) 218
Daria Ringwelska
19 Transfer tools (Arts. 28–33) 226
Monica Marcucci
20 Insurance guarantee scheme as bridge undertaking (Art. 34) 245
Magdalena Kozińska
21 Write-down or conversion tool (Arts. 35–41, 87, 91, 95) 252
Bartosz Wojno
PART VI RESOLUTION POWERS
22 Fundamental resolution powers and their exercise (Arts. 42–43, 54) 294
Karel Barták
23 Management of the undertaking in resolution and relevant entities (Arts. 44–45) 314
Anna Tarasiuk
24 Resolution powers and third parties (Arts. 46–47) 324
Anna Tarasiuk
25 Resolution stay powers (Arts. 48–53) 333
Salaheddine Mabrouki and Victor Vaudoit
PART VII SAFEGUARDS IN RESOLUTION
26 NCWO and its application (Arts. 55–57) 355
Chiara Lunetti and Jean-Baptiste Feller
27 Safeguards and protections for financial transactions in resolution (Arts. 58–62) 372
Chiara Lunetti and Jean-Baptiste Feller
PART VIII RESOLUTION DECISION AND ITS QUESTIONING
28 Resolution decision and related procedures (Arts. 64–65, 68) 384
Julien Valentin
29 Notifications requirements (Art. 63) 396
Augustin Tigneres
30 Confidentiality (Art. 66) 409
Augustin Tigneres
31 Resolution decisions’ judicial approval and challenge (Art. 67) 424
Jakub Kerlin
PART IX CROSS-BORDER GROUP RESOLUTION
32 Resolution colleges (Arts. 70–71) 433
Jan Koleśnik
33 Group resolution planning (Art. 69) 446
Jan Koleśnik
34 Group resolution execution (Arts. 73–74) 452
Magdalena Kozińska
35 Information exchange in cross-border resolution (Arts. 72, 80) 465
Augustin Tigneres
PART X THIRD COUNTRIES IN THE CONTEXT OF RESOLUTION
36 Resolution and third-country aspects (Arts. 75–79) 482
Pierpaolo Marano
PART XI RESOLUTION FINANCING
37 Financing of resolution (Art. 81) 506
Małgorzata Zaleska
PART XII PENALTIES IN THE CONTEXT OF RESOLUTION
38 Penalties in the context of resolution (Arts. 82–86) 514
Jakub Kerlin
PART XIII ROLE OF EIOPA
39 The Resolution Committee and the need to cooperate among competent authorities (Arts. 92, 96–97) 527
Juan Zschiesche Sánchez
40 Insurance guarantee schemes and crisis management (Art. 98) 536
Iwona Szczęsna
PART XIV FINAL PROVISIONS
41 Review clause (Art. 99) 549
Juan Zschiesche Sánchez
42 Final provisions (Arts. 100–102) 557
Magdalena Kozińska and Pierpaolo Marano
Other sources 562
Index 570

Erscheint lt. Verlag	20.1.2026
Reihe/Serie	Elgar Commentaries in Financial Law series
Verlagsort	Cheltenham
Sprache	englisch
Maße	169 x 244 mm
Themenwelt	Recht / Steuern ► EU / Internationales Recht
Themenwelt	Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht
ISBN-10	1-0353-4894-2 / 1035348942
ISBN-13	978-1-0353-4894-7 / 9781035348947
Zustand	Neuware