PET - Plain English Taxonomy

Name: InsuranceConcentrationRiskChargeMethodDimension
Label: Insurance Concentration Risk Charge Method Dimension
TREF ID: DM552
Type: Predefined
Description:
This dimension categorises the reported information based on the methods used to calculate insurance concentration risk charge, as determined in accordance with relevant prudential standards.
Usage:

Dimension Members
Name Label TREF ID Description
NaturalPerilsHorizontalRequirement Natural Perils Horizontal Requirement DV6168
The reported information relates to the natural perils horizontal requirement method used to calculate insurance concentration risk charge and is determined in accordance with relevant prudential standards. Natural perils are all natural events, such as earthquakes, storms and cyclones as well as man-made disasters, such as bushfires, that affect property risks and other classes of business to which an insurer is exposed to. Horizontal requirement refers to the impact of a multiple small events with a cumulative high impact.
NaturalPerilsVerticalRequirements Natural Perils Vertical Requirements DV6166
The reported information relates to the natural perils vertical requirement method used to calculate insurance concentration risk charge and is determined in accordance with relevant prudential standards.Natural perils are all natural events, such as earthquakes, storms and cyclones as well as man-made disasters, such as bushfires, that affect property risks and other classes of business to which an insurer is exposed to.Vertical requirement refers to the impact of a single large event.
OtherAccumulationsVerticalRequirement Other Accumulations Vertical Requirement DV6167
The reported information relates to exposures of losses arising from a common dependent source or non-natural perils (other accumulations), determined in accordance with relevant prudential standards.