Regulatory Alerts2016-04-25 | NBB_2016_18Added · Updated
Circular NBB_2016_18 / Circular on guidelines for the 'health catastrophe risk' sub-module in the Solvency Capital Requirement calculation under the standard formula
This circular establishes specific calculation guidelines for the 'health catastrophe risk' sub-module of the Solvency Capital Requirement for Belgian insurance and reinsurance undertakings. It mandates precise methodologies for determining insured sums for death, permanent disability, and medical treatment benefits, requiring the use of best estimates, demographic statistics, and inflation adjustments. The document specifies that companies must justify their assumptions to the National Bank of Belgium and apply these rules starting from March 23, 2016.