- Some participants are hoping for the calibrations to change - as a response to missing the SCR! (PS I checked, and it wasn't published on 1st April)
- Data collection processes feature high on most participants agendas, which is great news
- ORSA and Documentation highest on the "next steps" agenda - good boys!
- The implementation of an ERM framework also features on the priority list - not a surprise in that the larger organisation will have early adopter benefits in this field.
- Relatively small number of internal model applicants
- Over half needed external help with QIS5 - around 40% found this a beneficial experience in some way
- Similar problems with data suitability as reported at aggregated level in UK and Ireland (risk margin, counterparty default and health underwriting risk all scoring low)
- Op Risk SCR calculation rated highest in meeting technical specifications (my impression was that it was too simple)
An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
Thursday 14 April 2011
Barnett Waddingham - SMEs under QIS5
Was happy to have this flagged by our friends at Insurance ERM - a UK based SMEs survey on QIS5, which is full of fascinating gear, for example;
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