The model is robustly governed and understood and challenged at senior level. Baseline: clear governance with defined roles and accountability; documented, reviewed governance process; the board owns the model and signs off Lloyd's Capital Return submissions and major changes; time for board challenge after SCR outputs; board training on major modelled risks, assumptions and limitations, including for new members; a capital team resourced to meet requirements without material errors, supplemented by external challenge. Higher levels add model inventories, NEDs able to challenge methodology, regular assessment of understanding, a model governance committee and board-requested training.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.