EIOPA · 2246
Own Risk and Solvency Assessment (ORSA)
- Regulation
- (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
- Article
- 123
- Topic
- Own Risk and Solvency Assessment (ORSA)
- Submitted
- 2021-02-04
- Answered
- 2021-07-07
Question
It is is unclear how the SCR for exposure to, for instance flood risk, in the UK should be handled post-Brexit.
Background
In the context of Brexit, the UK will no longer be an EEA country and will thus no longer be included in Annex VIII. However, the UK is, currently, still a region listed in Annex VII.
Answer
Annex VII does not only include EEA countries, bus also other third countries such as the Swiss Confederation. Regions and flood risk factors continues to apply.
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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