Consultation on the assessment of the prudential treatment under Solvency II of adaptation measures in NatCat insurance

Interested stakeholders

The public consultation regarding the prudential treatment of adaptation measures within the Solvency II framework aims at assessing the interplay between risk mitigation and capital requirements for natural catastrophe (NatCat) insurance.

The objective of this consultation paper is to assess if a dedicated treatment under Solvency II is justified to better reflect adaptation measures in the NatCat standard formula module beyond the regular calibration of its parameters. 

Key areas of focus include:

• risk sensitivity: assessing if the current framework acts as an obstacle to "impact underwriting."
• materiality: evaluating the impact of adaptation measures from a Standard Formula perspective.
• proportionality: ensuring any new prudential treatments strike a balance between risk sensitivity and complexity.

EIOPA invites stakeholders to provide their feedback on the consultation paper by responding to the questions via the online survey no later than 17 April 2026. All responses will be published on EIOPA’s website unless otherwise requested.