1. European
  2. Legislation (EU)
  3. EU Directives
  4. 2009
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  1. Directive 2009/138/EC - Insurance and Reinsurance Directive (recast) (Solvency II)
  2. Title I General Rules on the Taking-Up and Pursuit of Direct Insurance and Reinsurance Activities (arts. 1-177)
  3. Chapter VI Rules relating to the valuation of assets and liabilities, technical provisions, own funds, Solvency Capital Requirement, Minimum Capital Requirement and investment rules (arts. 75-135)
  4. Section 4 Solvency capital requirement (arts. 100-127)
  5. Subsection 3 Solvency capital requirement full and partial internal models (arts. 112-127)
  6. Article 125 Documentation standards
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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 6 January 2010 - onwards
  Version 2 of 2    

Article 125 Documentation standards

Insurance and reinsurance undertakings shall document the design and operational details of their internal model.

The documentation shall demonstrate compliance with Articles 120 to 124.

The documentation shall provide a detailed outline of the theory, assumptions, and mathematical and empirical bases underlying the internal model.

The documentation shall indicate any circumstances under which the internal model does not work effectively.

Insurance and reinsurance undertakings shall document all major changes to their internal model, as set out in Article 115.

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