Since October 2020, the European Insurance and Occupational Pensions Authority (EIOPA) has been providing online trainings on insurance supervision to national competent authorities (NCAs) in the framework of the project, funded by the European Union via the Structural Reform Support Programme and delivered in cooperation with the European Commission’s Directorate-General for Structural Reform Support (DG REFORM).
So far, six NCAs benefited from this project, reaching 174 supervisors. The breakdown of training sessions is as follows:
- 21-23 October 2020: 39 participants from the Bank of Greece;
- 3-5 November 2020: 28 participants from the Financial Supervisory Authority of Romania;
- 25 – 27 November 2020: 25 participants from the National Bank of Slovakia;
- 14-18 December 2020: 46 participants from the Financial Supervision Commission of the Republic of Bulgaria;
- 18 – 21 January 2021: 11 participants from the Insurance Companies Control Service, Ministry of Finance of the Republic of Cyprus;
- 15-18 February 2021: 25 participants from the Insurance Supervision Agency of the Republic of Slovenia.
Each training programme was tailored to the needs of NCAs. NCAs from Greece, Romania and Slovakia opted for the default programme. NCAs from Cyprus and Slovenia chose in addition to the default programme an optional module on group supervision. The NCA from Bulgaria opted for the full programme, including optional modules on group supervision and internal models.
Per their specific requests, supervisors from Cyprus were also provided with a session on proportionality in SII 2020 review, and supervisors from Slovenia were provided with special sessions on supervision of product oversight and governance and on supervisory ladder in case of breach of SCR and the future recovery and resolution framework in 2020 review of SII.
Despite COVID-19 related travel and security restrictions, EIOPA and national experts were able to deliver successful trainings in virtual format. Many thanks to all participants for making the training truly interactive, by sharing their experience, asking difficult questions and adding valuable comments.
Further online training sessions are planned to be delivered in the first and second quarters of 2021.