12
Data Quality and Application of Approximations
12.1
Firms must ensure that the data used in the calculation of their technical provisions is appropriate, complete and accurate.
- 01/01/2016
12.2
Where firms have insufficient data of appropriate quality to apply a reliable actuarial method to a set or subset of their insurance and reinsurance obligations, or amounts recoverable from their reinsurance contracts and ISPVs, firms may use appropriate approximations, including case-by-case approaches, in the calculation of the best estimate.
[Note: Art. 82 of the Solvency II Directive]
- 01/01/2016