Decision on dual-capital model use in 2013 'not imminent' as FSA takes legal advice
Question of how Solvency II model can be used in 2013 unlikely to be resolved quickly as FSA promises to 'explore' options
The UK Financial Services Authority (FSA) has said any mechanism to allow insurers to use their Solvency II internal models as proxy for their Individual Capital Adequacy Standards (Icas) models in 2013 is "not imminent" and that it is still seeking legal guidance as to what is permissible.
The regulator had given some hope to the insurance industry at a conference last week that it was looking at ways to reduce the costs associated with running a Solvency II model and a model for the FSA's Icas
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