PINS 2.4.3 Guidance
1 The Regulatory Authority will discuss and evaluate the adequacy and prudence of the insurer's ORSA during the supervisory process. In particular, the authority will look into its adequacy when there is a material change in the insurer's risk management strategy, strategic plan or business plan.
2 If the assumptions or data used in an insurer's ORSA are inaccurate, inadequate or misleading, or if the Regulatory Authority considers that the underlying method is not sufficiently robust, the authority will require the insurer to conduct a new ORSA or to reconsider its report and prepare a revised report (see
GENE, r 5.2.2).
|Inserted by QFCRA RM/2013-1 (as from 1st January 2015).|