ICA, MCR, SCR and ORSA

Discussion in 'SA3' started by jensen, Jan 13, 2013.

  1. jensen

    jensen Member

    Not sure if this is still applicable, but what's the relation between ORSA and:

    1) the ICA?
    2) MCR and SCR?

    Are companies required (in general) to produce all four (MCR and SCR being solvency2 related)?
     
  2. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    Also covered in the up to date material.

    ORSA is part of Solvency 2, Pillar 2 (qualitative).

    ICA is the current regime. Will disappear when (if?!) S2 comes in.

    MCR and SCR will be the new Solvency 2, Pillar 1 quantitative requirements.
     
  3. jensen

    jensen Member

    Thanks Ian

    So Enhanced Capital Requirement (ECR) is also part of Solvency 1 I suppose?
     
  4. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    ECR is on top of the Solvency 1-adjusted EU minimum. But it's pretty academic since ICAs have taken over from that. And it'll disappear once S2 comes in.
     

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