Article 1
Policy on risk management
For the purpose of assessing the appropriateness of external credit assessments used in the calculation of technical provisions and the Solvency Capital Requirement by way of additional assessments referred to in Article 44(4a) of Directive 2009/138/EC, insurance and reinsurance undertakings shall include in their policy on risk management the following:
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(a) |
the scope and frequency of the additional assessments; |
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(b) |
the manner in which the additional assessments are carried out, including the assumptions on which they are based; |
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(c) |
the frequency of the regular review of the additional assessments and the conditions requiring an ad hoc review of the additional assessments. |