Article 161 Mass accident risk sub-module

1. The capital requirement for the mass accident risk sub-module shall be equal to the following:

where:

(a) the sum includes all countries set out in Annex XVI;

(b) SCR_(ma,s) denotes the capital requirement for mass accident risk of country s.

2. For all countries set out in Annex XVI, the capital requirement for mass accident risk of a particular country s shall be equal to the loss in basic own funds of insurance and reinsurance undertakings that would result from an instantaneous loss of an amount that, without deduction of the amounts recoverable from reinsurance contracts and special purpose vehicles is calculated as follows:

where:

(a) r_s denotes the ratio of persons affected by the mass accident in country s as set out in Annex XVI;

(b) the sum includes the event types e set out in Annex XVI;

(c) x_e denotes the ratio of persons who will receive benefits of event type e as a result of the accident as set out in Annex XVI;

(d) E_(e,s) denotes the total value of benefits payable

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