QIS4 for non-life insurers
What the draft technical specification means for non-life insurers
Between April and June 2008, CEIOPS will be running its fourth qualitative impact study (QSI4) to assist in the development of Solvency II.
With insurance firms still absorbing the impacts of recommendations from QIS3, this is an excellent opportunity for companies to participate in QSI4 and influence the ongoing development of the Solvency II regime. They will gain an early indication of development work needed, and to obtain an estimate of how their solvency position may change under Solvency II.
The biggest change from QIS3 is in respect of the introduction of geographic diversification in response to industry feedback. This allows for some degree of diversification benefit to be obtained in respect of each of the EEA territories and to a lesser extent from the rest of the world.
In this piece, we summarise the key differences between QSI3 and the draft specifications for QSI4.
For further information download our publication QIS4 for non-life insurers. (PDF. 66KB)