Calculation Ordinance
| Basic data | |
|---|---|
| Title: | Ordinance on the actuarial methods for calculating premiums and for calculating the provision for aging in private health insurance |
| Short title: | Calculation Ordinance |
| Abbreviation: | KalV |
| Type: | Federal Ordinance |
| Scope: | Federal Republic of Germany |
| Issued on the basis of: |
Section 12c Paragraph 1 Clause 1 No. 1–4 and Paragraph 2 i. V. m. Section 103a (2) sentence 2 VAG |
| Legal matter: | Insurance law |
| References : | 7631-1-26 |
| Issued on: | November 18, 1996 ( BGBl. I p. 1783 ) |
| Entry into force on: | November 27, 1996 |
| Expiry: | January 1, 2016 (Art. 1 of December 16, 2015, Federal Law Gazette I p. 2345, 2346 ) |
| Please note the note on the applicable legal version. | |
The German calculation regulation was an regulation issued by the Federal Financial Supervisory Authority (BaFin) on the basis of the Insurance Supervision Act . It laid down the actuarial methods insurance companies must use when calculating premiums and provisions for health and life insurance .
Principles of the calculation of premiums
The premium calculation must be carried out according to the recognized rules of actuarial mathematics for each insured person, depending on their age, separately for each tariff with a benefit promise that is uniform in terms of reason and amount, using the relevant calculation bases and a premium scale based on individual ages ( Section 10 (1) sentence 1 KalV ).
Further regulations
The regulation also contains provisions
- for the equality of insurance coverage and for the crediting of the rights acquired and the provision for aging when changing tariffs,
- to calculate the transfer value ,
- to change to the basic tariff and to a subsequent change from the basic tariff,
- to determine the excess interest , to distribute contributions to eligible insured persons and to determine the original starting age ,
- the procedure for comparing the required insurance benefits with the calculated insurance benefits and the deadline for submitting the comparison to the supervisory authority and the trustee.
Regulator
The original version of the calculation regulation was issued in 1996 by the Federal Ministry of Finance in agreement with the Federal Ministry of Justice and with the consent of the Federal Council . In 2007, the authorization was transferred to BaFin by § 1a BaFinBefugV.
