CEIOPS published its Consultation Paper No. 19 concerning its 'Draft Advice to the European Commission in the Framework of the Solvency II Project on Safety measures'. The paper discusses the “plus” in the prudent person plus approach in the context of the overall review of the Solvency system. It also paper discusses a possible role for quantitative limits within Solvency II.
CEIOPS stresses in this respect that asset related risks are envisaged to be captured by the Solvency Capital Requirements, but are equally subject to the range of qualitative and disclosure requirements and supervisory review.
Deadline for consultation is 12 January 2007.
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