Article 160
Health catastrophe risk sub-module
1.
The capital requirement for the health catastrophe risk sub-module shall be equal to the following:
where:
(a)
SCRma denotes the capital requirement of the mass accident risk sub-module;
(b)
SCRac denotes the capital requirement of the accident concentration risk sub-module;
(c)
SCRp denotes the capital requirement of the pandemic risk sub-module.
2.
Insurance and reinsurance undertakings shall apply:
(a)
the mass accident risk sub-module to health insurance and reinsurance obligations other than workers' compensation insurance and reinsurance obligations;
(b)
the accident concentration risk sub-module to workers' compensation insurance and reinsurance obligations and to group income protection insurance and reinsurance obligations;
(c)
the pandemic risk sub-module to health insurance and reinsurance obligations other than workers' compensation insurance and reinsurance obligations.