Raising the standard

Within the scope of Solvency II insurers are required to calculate the risk-based own funds needed using a standard model or their own internal risk model.The working groups of insurance supervisors (Committee of European Insurance and Occupational Pension Supervisors [CEIOPS]) have been discussing the actual design of this new system since the summer of 2004 and published a first interim report on their discussion - inter alia on the standard model and on requirements for internal models -