CEIOPS published a Consultation Paper of draft advice to the Commission for the Solvency II project on Proportionality. The draft advice addresses how to gear the new risk-based regime to the nature, scale and complexity of an insurer’s or reinsurer’s risks, including small and medium-sized undertakings. Appropriate treatment of all undertakings is to be achieved through the application of the proportionality principle.
CEIOPS has proposed principles in its Draft Advice under all three Pillars, also on aspects of internal models, and group supervision. An Annex compiles the simplifications and proxies that have been developed for QIS4 specifications. An update of the Annex will be provided following the QIS4 consultation.
Deadline for responses is 25 April 2008.
CEIOPS will organise a Public Hearing on both Consultation Papers on 2 April 2008.
Press release
Consultation Paper on Proportionality
Annex
© Graham Bishop
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