Raising the standard
The German insurance industry is actively pushing forward the discussion on the standard model within the scope of Solvency II
Within the scope of Solvency II insurers are required to calculate the risk-based own funds needed using a standard model or their own internal risk model.
The working groups of insurance supervisors (Committee of European Insurance and Occupational Pension Supervisors [CEIOPS]) have been discussing the actual design of this new system since the summer of 2004 and published a first interim report on their discussion - inter alia on the standard model and on requirements for internal models - in
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