(67)The operational risk module of the standard formula captures the risk arising from inadequate or failed internal processes, personnel or systems, or from external events in a factor-based calculation. For this purpose, technical provisions, premiums earned during the previous twelve months, and expenses incurred during the previous twelve months are considered appropriate volume measures to capture this risk. The latter volume measure is relevant only for life insurance contracts where the risk is borne by the policyholder. In view of the fact that acquisition expenses are implemented heterogeneously in different insurance business models, these expenses should not be taken into account in the volume measure for the amount of expenses incurred during the previous 12 months. In order to ensure that the capital requirement for operational risk continues to meet the confidence level set out in Article 101 of Directive 2009/138/EC, the operational risk module should be re-examined as part of the Commission review of the methods, assumptions and standard parameters used when calculating the Solvency Capital Requirement with the standard formula, as referred to in recital (150). This review should in particular target life insurance contracts where the risk is borne by the policyholder.