Abstract

The 2009 Solvency II Directive from sets not only quantitative solvency requirements for insurance undertakings, but also qualitative requirements regarding management of insurance undertakings and corporate governance. One of the elements of the latter is an obligation to fulfill certain requirements by insurance undertakings which outsource execution of insurance operations to third partieds. This obligation did not exist in previous regulations. In connection with the above, that obligation requires transposition into the legal systems of Member States, including the Polish law. The transposition should take into account the detailed arrangements set forth by the Directive concerning outsourcing in the insurance business and the concept of that process.