(1) An insurance undertaking must have appropriate procedures to identify a deterioration in its financial situation.
(2) An insurance undertaking must notify the supervisory authority without delay of a deterioration in its financial situation that could jeopardise its ability to meet its insurance obligations or its solvency.
Part 2 · Provisions for direct insurance and reinsurance › Division 4 · Insurance undertakings in special situations › Section 132
Identification and notification of a deteriorating financial situation
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