Article 144U.K.Health underwriting risk module
1.The health underwriting risk module shall consist of all of the following sub-modules:
(a)the NSLT health insurance underwriting risk sub-module;
(b)the SLT health insurance underwriting risk sub-module;
(c)the health catastrophe risk sub-module.
2.The capital requirement for health underwriting risk shall be equal to the following:
where:
the sum covers all possible combinations (i,j) of the sub-modules set out in paragraph 1;
CorrH(i,j) denotes the correlation parameter for health underwriting risk for sub-modules i and j;
SCRi and SCRj denote the capital requirements for risk sub-module i and j respectively.
3.The correlation coefficient CorrH(i,j) referred to in paragraph 2 denotes the item set out in row i and in column j of the following correlation matrix:
| j i | NSLT health underwriting | SLT health underwriting | Health catastrophe |
|---|---|---|---|
| NSLT health underwriting | 1 | 0,5 | 0,25 |
| SLT health underwriting | 0,5 | 1 | 0,25 |
| Health catastrophe | 0,25 | 0,25 | 1 |
4.Insurance and reinsurance undertakings shall apply:
(a)the NSLT health underwriting risk sub-module to health insurance and reinsurance obligations included in lines of business 1, 2, 3, 13, 14, 15 and 25 as set out in Annex I;
(b)the SLT health underwriting risk sub-module to health insurance and reinsurance obligations included in lines of business 29, 33 and 35 as set out in Annex I;
(c)the health catastrophe risk sub-module to health insurance and reinsurance obligations.
Modifications etc. (not altering text)
C1 Art. 144(3): 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))