CAPI 2.3.3 What is a strategy and risk document?

(1) A firm that is a QFC captive insurer must prepare, at the beginning of each financial year, a high level document (the strategy and risk document) that describes the key elements of a firm's risk management policy.
(2) A firm's strategy and risk document must be appropriate to the nature, scale and complexity of the firm's business and must include—
(a) the purpose of the firm as captive insurer; and
(b) its risk appetite and risk management strategy (or revised strategy); and
(c) a description of the risk assessment conducted by the firm and the results of that assessment; and
(d) an explanation about how the risks identified by the risk assessment are to be reported, monitored and managed; and
(e) the role and responsibilities of management in relation to risks; and
(f) systems and controls for managing risks; and
(g) the firm's forward budget; and
(h) an outline of the approval and review processes for the document.
Derived from QFCRA RM/2011-1 (as from 1st July 2011)