Modifications etc. (not altering text)
C1 Annex 12: power to amend and revoke conferred (31.12.2020) by The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407), regs. 1(2), 4, Sch. 3 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 27(a) and S.I. 2020/1385, regs. 1(2), 54(2))
| i | Group of insurance and reinsurance obligations i | Risk factor ci |
|---|---|---|
| 1 | Insurance and reinsurance obligations included in lines of business 6 and 18 as set out in Annex I other than marine insurance and reinsurance and aviation insurance and reinsurance | 100 % |
| 2 | Reinsurance obligations included in line of business 27 as set out in Annex I other than marine reinsurance and aviation reinsurance | 250 % |
| 3 | Insurance and reinsurance obligations included in lines of business 12 and 24 as set out in Annex I, other than extended warranty insurance and reinsurance obligations provided that the portfolio of these obligations is highly diversified and these obligation do not cover the costs of product recalls | 40 % |
| 4 | Reinsurance obligations included in line of business 26 as set out in Annex I other than general liability reinsurance | 250 % |
| 5 | Non-proportional reinsurance obligations relating to insurance obligations included in lines of business 9 and 21 as set out in Annex I | 250 % |
For the purpose of group 3, ‘extended warranty insurance obligation’ means insurance obligations which cover the cost of repair or replacement in the event of a breakdown of a consumer good used by the individuals in a private capacity and which may also provide additional cover against eventualities such as accidental damage, loss or theft and assistance in setting up, maintaining and operating the good.