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Model Validation

Focuses on ensuring syndicate models produce an appropriately calibrated SCR and that models are demonstrably compliant with the relevant tests and standards of the Directive.

Guidance Issued
Model Validation Guidance (June 2012)

Data Audit Report Guidance (March 2012)
Model Validation Guidance

Model Validation Report Illustration for Reserving Risk (November 2011)

Model Validation Walkthrough Questionnaire (August 2011)

Validation Report Guidance (updated June 2011)

External Catastrophe Models
External Catastrophe Model Validation - Illustrative validation document (10 July 2012)

External Catastrophe Model Validation - example limitations & weaknesses document (10 July 2012)
External Catastrophe Model Validation - Conceptual Framework (3 May 2012)
Templates and Scoring Sheets

Data Audit Framework Template

Model Validation Evidence Template

Scoring sheets
Workshop Slides
Model Validation workshop slides (14 and 15 May 2013)

Model Validation workshop slides (12 and 13 June 2012)

Data workshop slides (13 and 18 April 2012)

Model Validation workshop slides (September 2011)

Model Validation workshop slides (July 2011)

Model Validation workshop slides (May 2011)

Model Validation workshop slides (March 2011)

External Catastrophe Models

External Catastrophe Models briefing slides (9 July 2012)

External Catastrophe Models briefing slides (18 January 2012)
FAQs
Model Validation FAQs (updated February 2013)

External Models and Data FAQs

2013 Guidance Notes

Sets out Solvency II information for managing agents on the published 2013 timetable and the individual deliverables included

Download 2013 Guidance Notes