IRM unveils guidance to ensure Solvency II risk models are 'fit for purpose'
The Institute of Risk Management’s Internal Model Industry Forum has published a guidance document based on its research into the effective validation of risk models created by the insurance industry to comply with the requirements of Solvency II.
The guidance, entitled ‘the valuation cycle: developing sustainable confidence and value', supports the potential for risk models to add value to businesses, beyond purely meeting regulatory
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