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08 April 2010

CEIOPS publishes final advice for L2 implementing measures on Solvency II


This final set of advice covers calibration of the MCR and of underwriting risks in Non-Life and Health insurance. CEIOPS underlines the importance of harmonized European-wide calibration and recognizes that this topic warrants further work on behalf of CEIOPS and stakeholders.

Following formal approval by Members, CEIOPS publishes its final Advice for Level 2 implementing measures advice as to calibration of the MCR and of underwriting risks in Non-Life and Health insurance.
CEIOPS final advice on calibration benefits from further data collected from Members and reflects the outcome of discussions held with stakeholders in order to improve the understanding of the comments and to find solutions to the problems raised related to underwriting risks.
 
CEIOPS underlines the importance of harmonised European-wide calibrationand recognises that this topic warrants further work on behalf of CEIOPS and stakeholders. In particular, regarding the treatment of health underwriting risk, and consistent with the aforementioned idea of joint work with stakeholders, CEIOPS is looking forward to continue discussions with them and the European Commission in this area.
 
The overall impact of the Level 2 measures will be extensively tested in QIS5, for which the European Commission is currently preparing technical specifications, building upon CEIOPS advice, stakeholders’ input and Commission’s own work, so that final specifications may deviate from the advice published today.
 
 
CEIOPS Cover Letter on final set of Solvency II final L2 advice to EC
 
 


© CEIOPS

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