EIOPA · 170
170
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2015-07-14
- Answered
- 2019-10-31
Question
Difference between Annotated Template and spécifications (31 april 2014) concerning Man-Made cat risk MARINE formula :
QIS page 281 SCR 9.114 : SCR_MARINE=root of(SCR_PLATFORME^2+SCR_TANKER^2)
S2701 HA5 : SCR_MARINE=SCR_PLATFORME+SCR_TANKER.
Which formula is relevant ?
Answer
Please note that the Commission’s Delegated Act containing implementing rules for Solvency II have been published (Commission Delegated Regulation 2015/35) and therefore this should be the relevant source to use.In this case article 130 which specifies that the capital requirement for marine risk shall be equal to the following: SCRmarine = root of(SCR_TANKER^2+SCR_PLATFORME^2)where: SCRtanker is the capital requirement for the risk of a tanker collision and SCRplatform is the capital requirement for the risk of a platform explosion.
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.
Similar Q&As
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.