The documentation of the internal model shall include all of the following information:
(a)((a)) an inventory of all the documents which form part of the documentation;
(b)((b)) the policy for changing the internal model as referred to in Article 115 of Directive 2009/138/EC;
(c)((c)) a description of the policies, controls and procedures for the management of the internal model, including responsibilities assigned to staff members of the insurance or reinsurance undertaking;
(d)((d)) a description of the information technology used in the internal model, including any contingency plans relating to the information technology used;
(e)((e)) all relevant assumptions on which the internal model is based and their justification in accordance with Article 230(2);
(f)((f)) the explanation of the methodology used to set assumptions referred to in point (c) of Article 230(2) which shall cover the following:
(i)((i)) the inputs on which the choice of assumptions is based;
(ii)((ii)) the objectives of the choice of assumptions and the criteria used for determining the appropriateness of the choice;
(iii)((iii)) any limitations in the choice of assumptions made;
(g)((g)) a directory of the data used in the internal model, specifying their source, characteristics and usage;
(h)((h)) the specification for the collection, processing and application of data referred to in Article 231(3)(e);
(i)((i)) where data are not used consistently over time in the internal model, a description of the inconsistent use and its justification;
(j)((j)) the specification of the qualitative and quantitative indicators for the coverage of risks referred to in Article 233;
(k)((k)) a description of the risk-mitigation techniques that are taken into account in the internal model as referred to in Article 235 and an explanation of how the risks arising from the use of risk-mitigation techniques are reflected in that internal model;
(l)((l)) a description of the future management actions taken into account in the internal model as referred to in Article 236 and a description of the relevant deviations referred to in Article 236(2);
(m)((m)) the specifications for the profit and loss attribution referred to in Article 240(1);
(n)((n)) the specifications for the model validation process referred to in Article 241(3);
(o)((o)) the results of the validation in relation to compliance with Article 101 of Directive 2009/138/EC;
(p)((p)) in relation to external models and data:
(i)((i)) the role of external models and data in the internal model;
(ii)((ii)) the reasons for preferring external models to internally developed models and external data to internal data;
(iii)((iii)) the alternatives to the use of external models and data considered by the insurance or reinsurance undertaking and an explanation of the decision in favour of a particular external model or a set of external data.