EIOPA has published its Final Report on the outcome of the Public Consultation No. 11/008, which was launched by EIOPA on 7 November 2011 on the proposal for Guidelines on Own Risk and Solvency Assessment (ORSA).
The Report underlines the purposes of the ORSA and provides additional details on how the ORSA is to be interpreted. Undertakings are expected to have the necessary competence and expertise to find fit-for-purpose solutions for the practical implementation of the ORSA. EIOPA points out that one key feature of the ORSA is proportionality.
Please click here to read the full text of the Report.