28 January 2010
Published in: Regulation - supervision
QIS5 taskforce created
Members of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) have agreed to set up a specialized task force for the delivery of the fifth and final quantitative impact study (QIS 5) for Solvency II.
The task force will be led by CEIOPS' secretariat and will be responsible for supporting and coordinating the relevant expert groups in preparing and running the exercise. It will also ensure that there is consistency where the expert groups overlap.
CEIOPS is expected to provide a complete draft of the QIS 5 technical specification along with a comprehensive calibration paper by the end of March to enable the European Commission to publish final technical specifications by the end of July.
The Commission has requested that QIS 5 is run between August and mid-November. CEIOPS said that solo results will need to be submitted to national supervisors by the end of October while the deadline for group results is mid-November.