Where insurance and reinsurance undertakings have insufficient data of appropriate quality to apply a reliable actuarial method, they may use appropriate approximations to calculate the best estimate provided that all of the following requirements are met:
(a)((a)) the insufficiency of data is not due to inadequate internal processes and procedures of collecting, storing or validating data used for the valuation of technical provisions;
(b)((b)) the insufficiency of data cannot be remedied by the use of external data;
(c)((c)) it would not be practicable for the undertaking to adjust the data to remedy the insufficiency.