Delegated Regulation (EU) 2015/35 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II):artikel 244

Delegated Regulation (EU) 2015/35 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

Article 244 Minimum content of the documentation

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

The documentation of the internal model shall include all of the following information:

(a)

an inventory of all the documents which form part of the documentation;

(b)

the policy for changing the internal model as referred to in Article 115 of Directive 2009/138/EC;

(c)

a description of the policies, controls and procedures for the management of the internal model, including responsibilities assigned to staff members of the insurance or reinsurance undertaking;

(d)

a description of the information technology used in the internal model, including any contingency plans relating to the information technology used;

(e)

all relevant assumptions on which the internal model is based and their justification in accordance with Article 230(2);

(f)

the explanation of the methodology used to set assumptions referred to in point (c) of Article 230(2) which shall cover the following:

(i)

the inputs on which the choice of assumptions is based;

(ii)

the objectives of the choice of assumptions and the criteria used for determining the appropriateness of the choice;

(iii)

any limitations in the choice of assumptions made;

(g)

a directory of the data used in the internal model, specifying their source, characteristics and usage;

(h)

the specification for the collection, processing and application of data referred to in Article 231(3)(e);

(i)

where data are not used consistently over time in the internal model, a description of the inconsistent use and its justification;

(j)

the specification of the qualitative and quantitative indicators for the coverage of risks referred to in Article 233;

(k)

a description of the risk-mitigation techniques that are taken into account in the internal model as referred to in Article 235 and an explanation of how the risks arising from the use of risk-mitigation techniques are reflected in that internal model;

(l)

a description of the future management actions taken into account in the internal model as referred to in Article 236 and a description of the relevant deviations referred to in Article 236(2);

(m)

the specifications for the profit and loss attribution referred to in Article 240(1);

(n)

the specifications for the model validation process referred to in Article 241(3);

(o)

the results of the validation in relation to compliance with Article 101 of Directive 2009/138/EC;

(p)

in relation to external models and data:

(i)

the role of external models and data in the internal model;

(ii)

the reasons for preferring external models to internally developed models and external data to internal data;

(iii)

the alternatives to the use of external models and data considered by the insurance or reinsurance undertaking and an explanation of the decision in favour of a particular external model or a set of external data.

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