Prudential Regulation Authority Rulebook

1.1

Unless otherwise stated, this Part applies to:

1. (1) a UK Solvency II firm; and
2. (2) in accordance with Insurance General Application 3, the Society.

1.2

In this Part, the following definitions shall apply:

internal model approval application

means an application by a firm for internal model approval.

internal model change policy

means a firm’s policy for making minor and major changes to its internal model.

internal model requirements

means the requirements set out in Solvency Capital Requirement – Internal Models 10 to 15.