(1) The internal model must be widely used in, and play an important role in, the business organisation, in particular 1. in the risk management system under section 26 and in decision-making processes, and 2. in the assessment of economic and solvency capital and in the allocation processes, including the assessment under section 27.
(2) The frequency of calculating the Solvency Capital Requirement using the internal model must be consistent with the frequency with which the internal model is used for the purposes named in subsection (1).
(3) The insurance undertaking bears the burden of proof that the requirements of subsections (1) and (2) are met.
Part 2 · Provisions for direct insurance and reinsurance › Division 2 · Solvency requirements › Section 115
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