On-site inspections
Article from BaFin's 2017 annual report
On-site inspections are planned using a risk-based approach. As well as the results of the risk classification, one of the factors that BaFin takes into account is whether an insurer was subject to an on-site inspection in the recent past. Ad hoc on-site inspections are also conducted.
In the year under review, the Insurance Supervision Directorate conducted a total of 115 on-site inspections compared with 105 in 2016. The increase in the number of on-site inspections compared with the previous year reflected both the growth in internal model reviews and a higher number of regular inspections.
Table 17 shows the breakdown of the inspections by risk class.
Table 17 Breakdown of on-site inspections by risk class in 2017
Breakdown of on-site inspections by risk class in 2017
* Eight on-site inspections were also conducted at unclassified undertakings, bringing the total to 115 inspections.
BaFin
