Insight
Pulse Survey: Mental health benefits
Survey: Since the pandemic began, 66% of employers report increased use of mental health resources offered through their benefits plan, and 62% indicate a significant spike in claim costs
The assessment of the appropriateness of the standard formula is a key part of the Own Risk and Solvency Assessment (ORSA) process under Solvency II. As part of this assessment, (re)insurers must identify any material deviations in risk profile compared to the assumptions underlying the standard formula. This briefing note outlines what is expected under this assessment, including the key challenges such as the treatment of risks that are not reflected in the standard formula, the qualitative assessment and what is required if a material deviation is identified.
Insight
Survey: Since the pandemic began, 66% of employers report increased use of mental health resources offered through their benefits plan, and 62% indicate a significant spike in claim costs
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