Sejal
Hi.
I
attach the LOG with some tracked suggested changes and comments. I have
included Alan’s changes with which I agree. The changes also mirror some
of Aurelien’s comments.
I
think this works but I have not made all the consequential changes to the cells
following the introduction of additional columns to the spreadsheet – neither
have I edited the spreadsheet.
All
should be self explanatory but, if not, please do give me a
call.
I
would also welcome views on whether the accident concentration works for workers
compensation. I think it will work for Group IP but I am not familiar with
WComp.
There
is also a potential issue that has been raised with me at Bupa.
I’ve
not walked through this myself but it has been suggested that the current level
2 text implies that catastrophe risk should be calculated at homogeneous risk
group level.
As
catastrophe risk is part of the underwriting risk module (HUR1) then it is
included in the calculation of the technical provisions which need to be carried
out at HRG level.
I’m
sure this isn’t intended but would you or a colleague know if this
interpretation is correct?
Regards
Geoff
Geoff
Brown | S2 Assurance Director | Bupa House 15-19 Bloomsbury Way London WC1A
2BA
T:0207
656 2610 | M:07767 836267 | E:geoff.brown@bupa.com
From: Sejal
Haria [mailto:Sejal.Haria@fsa.gov.uk]
Sent: 10 April 2012
14:56
To: Aurelien.COSMA@acp.banque-france.fr
Cc: BROWN,
Geoff; alan_lockie@swissre.com
Subject: RE: CATsg - Catastrophe
templates workgroup
Dear
Aurelien,
Hope
you had a good Easter.
Yes
thanks for this. I did get your email.
On
the whole I understand your comments are clarifying / correcting and for
pandemic you are recommending more detailed information.
Geoff
/ Alan are these your views also?
Kind
regards
Solvency
II Office | Prudential Insurance Policy
( +44 20
7066 7676 *
sejal.haria@fsa.gov.uk
Financial
Services Authority | 25 The North Colonnade |
From:
Aurelien.COSMA@acp.banque-france.fr [mailto:Aurelien.COSMA@acp.banque-france.fr]
Sent: 10 April 2012 14:10
To: Sejal
Haria
Subject: RE: CATsg - Catastrophe templates workgroup
Dear Sejal,
Two weeks ago I sent an e-mail with some comments on the health part
of the SCR CAT template (see attached file). I reckon it more or less answers
the questions raised by Alex in his call for comments; however if you’re still
expecting some feedback and/or clarifications from me, don’t hesitate to contact
me.
Kind regards,
Aurélien
De : Sejal Haria
[mailto:Sejal.Haria@fsa.gov.uk]
Envoyé : mardi 10 avril 2012
13:09
À : Alexandros Ntelekos; Peter Ter Berg (DNB); Cook, Ian;
Helen Bradley (Guy Carpenter); COSMA Aurélien (UA 2774); BROWN, Geoff;
alan_lockie@swissre.com; Maynard, Trevor; HAMS Anthony
Cc :
Marjan Trobina; Daniel.Perez@eiopa.europa.eu; Nikolaos Petalas; Zulfiya Samieva;
H.J.G.Hendriks@DNB.NL; VOIGNAC Laurent (UA 2776); Olaf
Ermert
Objet : RE: CATsg - Catastrophe templates
workgroup
Dear
all,
Further
to below, please can you send me your comments by 18th April, so I
can collate these and aim to circulate to the wider group a couple of weeks
before the next meeting on 3 May.
If you
are also satisfied that the template covers all the relevant areas in the right
amount of detail please also let me know.
I have
allocated subject areas below:
Natural
catastrophes: Ian and Trevor
Fire and
Motor: Ian
Liability
and Marine: Helen
Credit
and SuretyShip: Anthony and Peter (Anthony, I don’t think you were included in
the original group so I will send you the attached documents
separately)
Health:
Aurelien , Geoff and Alan
Many
thanks for your co-operation.
Kind
regards,
Solvency
II Office | Prudential Insurance Policy
( +44 20
7066 7676 *
sejal.haria@fsa.gov.uk
Financial
Services Authority | 25 The North Colonnade |
From:
Alexandros Ntelekos
Sent: 26 March 2012 17:26
To: Sejal
Haria; Peter Ter Berg (DNB); Cook, Ian; 'Helen Bradley (Guy Carpenter)'; Anthony
Brown; Aurelien.COSMA@acp.banque-france.fr; BROWN, Geoff;
'alan_lockie@swissre.com'; Maynard, Trevor
Cc: Marjan Trobina;
'Daniel.Perez@eiopa.europa.eu'; Romain Labaune; Nikolaos Petalas; Zulfiya
Samieva; H.J.G.Hendriks@DNB.NL; Laurent Voignac; Olaf Ermert
Subject:
CATsg - Catastrophe templates workgroup
Importance: High
Dear CATsg
members,
I am contacting you
once more to ask for your contributions on an issue that EIOPA and the SCRsg has
requested that we have a look at: The catastrophe reporting templates. I have
already mentioned this at our last meeting but I now can be more concrete on
what is required from us.
The catastrophe
reporting template is effectively an excel spreadsheet along with an explanatory
document that undertakings will use to report their SF results to supervisors.
Harold (cc'd above,
H.J.G.Hendriks@DNB.NL) has already
done a magnificent job in putting this template together. The template has been
through public consultation with the industry and comments have been received.
The SGRsg has discussed these comments and is now asking the CATsg to have a
look at the template and at the comments and to provide feedback on the
template.
Following some
discussions with colleagues I have decided to put together a workgroup to have a
look at this issue with a view to discuss and close in the May meeting of the
CATsg in London. If you are in the to list of this email you are a member of
this group and I would like to ask for your
contribution.
This should be a
relatively straightforward exercise: All we need is for everyone to look at the
relevant part of the template (e.g. Ian at the nat-cats, Helen on liability,
Geoff-Alan-Aurelien at the health, etc) and the Log (see below), see
whether they are happy with the information requested (clarity, granularity etc)
and the relevant description in the log and then contrast with the high
level comments received from stakeholders. You should then send any
comments to Sejal who will be leading this group and will collect
the comments prior to the next meeting. I am keen on circulating any
comments of the workgroup and the templates to the wider group as soon as
possible so I would ask Sejal to pass these to me at least a coupe of
weeks prior to the next meeting.
I am attaching here
three documents:
1. The actual
catastrophe non-life template (spreadsheet)
2. The consultation
Log (a key for each cell mentioned under each sub-module in the
template)
3. The highlighted
issues from the public consultation process (high level comments from
stakeholders)
If you have any
questions about the template please feel free to contact Harold or
myself.
Kind
regards,
Alex
Alex
Ntelekos, Ph.D.
General Insurance
Department
Risk Specialists Division
The Financial
Services Authority
25 The North
Colonnade | Canary Wharf | London, E14 5HS
Tel: +44 20 7066 6338
Mob: +44
778 5950 818
alexandros.ntelekos@fsa.gov.uk
www.fsa.gov.uk
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