CTHRepealedLegislation
Insurance (prudential standard) determination No. 6 of 2010 - Prudential Standard GPS 113 - Capital Adequacy: Internal model-based method
Model useModel use
Start here
Get a plain-English read of Model use
Turn the raw legal text into a practical explanation grounded in Insurance (prudential standard) determination No. 6 of 2010 - Prudential Standard GPS 113 - Capital Adequacy: Internal model-based method.
Model use
- APRA will not provide approval for use of the IMB Method unless it is satisfied that the ECM plays an integral role in the insurer’s management and decision-making processes, and that this use is embedded in the insurer’s operations. APRA’s consideration of model use will include, but will not be limited to, some of the indicators set out in the Attachment to this standard.