United Kingdom

Solvency ll: FLAOR (formerly ORSA) update 

Remove Solvency ll’s requirement for insurance businesses to report a Forward Looking Assessment of Own Risks (FLAOR), formerly known as the Own Risk and Solvency Assessment (ORSA), and it’s simply good practice to have a robust view of capital and the risks the business faces.
Solvency ll: FLAOR (formerly ORSA) update

Turning a requirement into a competitive advantage

 

The challenge - and opportunity - is to evolve FLAOR from being an annual compliance exercise into a way of better understanding business strategy risks. This means incorporating FLAOR into the broader business planning process so that strategy, capital requirements and risk are considered together.

 

How we can help

 

We can help insurance companies build or enhance their ability to embed FLAOR. We can work with businesses to help them embed risk into their everyday processes and enhance their efficiency.

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Contact

Michael Crawford

Michael Crawford

Partner

KPMG in the UK

 

020 7311 1446

Email Michael