Capital requirement for operational risk

(1) The capital requirement for operational risk covers operational risks insofar as these are not already reflected in the risk modules named in section 100. It must be calibrated in accordance with section 97(2).
(2) In respect of life insurance contracts where the investment risk is borne by the policyholders, the calculation of the capital requirement for operational risk must take into account the amount of expenses incurred annually in respect of the obligations arising from those insurance policies.
(3) In respect of insurance business not falling under subsection (2), the calculation of the capital requirement for operational risk must take into account the volume of that business, in terms of earned premiums and of the technical provisions held for the obligations arising from those insurance policies. In doing so, the capital requirement for operational risk may not exceed 30 percent of the Basic Solvency Capital Requirement for that insurance business.