EIOPA · 146
146
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2015-03-13
- Answered
- 2019-10-31
Question
In the prescribed template of EIOPA (S.25.03) the Insurance Entity is free to fill in its components that contribute to the Solvency Capital Requirement. In the prescribed template there are no additional cells for the operational risk. The operational risk is not covered by other modules. Should it be reported as a component even though there is no diversification benefit? Or could we assume that we include a cell regarding ‘Operational Risk’ and ‘SCR including operational risk’ between cell B4 and cell B5? And will this be changed in the Full Solvency II set of templates?
Answer
In S.25.03 the operational risk should be reported as a component of the internal model regardless of the diversification effect. This answer is valid for both preparatory phase and technical standard under consultation.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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