Eiopa warns on use of external data in internal capital models

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Insurance companies will need to provide details of any external data or models used to support their internal model applications or risk their model application being rejected, the European Insurance and Occupational Pensions Authority (Eiopa) has said. 

Contractual confidentiality provisions between insurers and suppliers of models cannot be used to justify refusing to provide this information to national supervisors, the authority added.

The warning was contained within an 'opinion' from Eiop