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    BoE Consults on the Insurance XBRL Taxonomy Version 1.0.0

    August 10, 2018

    BoE published public working draft of the standalone National Specific Templates (NSTs) and standard formula reporting for firms with an approved internal model (SF.01) taxonomy, along with the related technical artefacts, that will make up part of BoE’s insurance XBRL taxonomy. The public working draft follows the policy statement PS21/18, which addresses changes to the reporting format under Solvency II. Firms and software vendors are invited to provide feedback on the modeling, annotated templates, validations, and XBRL taxonomy by August 24, 2018.

    The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the reporting requirements set out in PS16/18 on changes in insurance reporting requirements and  the supervisory statement SS15/16 titled "Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model." The DPM extends EIOPA’s Solvency II Version 2.3.0.0 dictionary. This public working draft should not be used for reporting. The public working draft for internal model outputs and market risk sensitivities will be released in early September and the final live release will consolidate all frameworks.

     

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    Comment Due Date: August 24, 2018

    Keywords: Europe, UK, Insurance, Solvency II, XBRL, Taxonomy 1.0.0, NST, DPM, Reporting, Validations, BoE

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