Solvency II: Insurers and supervisors must work together to ensure consistency on model approvals

structured products
Building an internal model is challenging

Further work needs to be done to ensure consistency between national supervisors in their approval of internal models. But insurance groups must also take steps to ensure they are following a consistent approach to submissions for model approval across the organisation, according to the chairman of the European Insurance and Occupational Pensions Authority's (Eiopa) internal models committee.

Speaking at Insurance Risk's Solvency II and Insurance Risk conference, Paolo Cadoni said Eiopa's peer

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