Following EIOPA’s recent pilot exercise on climate change adaptation in non-life underwriting and pricing, EIOPA is launching a data collection to assess the potential for a dedicated Pillar 1 treatment of climate-related adaptation measures in Solvency II’s standard formula for non-life underwriting risk.
The focus of the data collection lies on the influence of climate-related adaptation measures on premium risk, and it is supplemented by qualitative questions on reserve risk and natural catastrophe risk.
National competent authorities (NCAs) will directly contact undertakings to participate in the data collection.
Insurance and reinsurance undertakings participating in the data collection should submit results to their NCAs by 1st June 2022. After validating the submissions, NCAs will report this information to EIOPA.
The template (EIOPA-BoS-22-195) should be filled according to the instructions in the technical specifications (EIOPA-BoS-22-194)
Undertakings participating in the data collection are invited to contact EIOPA directly for questions concerning the technical specifications of the data collection and the completion of the quantitative template or the qualitative questionnaire.
Undertakings should submit their questions by filling out the Q&A template (EIOPA-BoS-22-211) and sending it to EIOPA via email at: email@example.com. Undertakings should also copy their respective supervisor in their emails to EIOPA.
Undertakings are invited to formulate their questions as early as possible in the course of the exercise. The questions received by EIOPA will be posted on this webpage to inform the undertakings of the questions already raised and to avoid duplication.
All questions will be published anonymously.
EIOPA will only respond to technical questions on the data collection. Questions on policy issues will not be addressed.
All participants to the data collection exercise are invited to attend a virtual workshop organized by EIOPA on the 20 April from 11h30 to 12h30.
The workshop will highlight the key conceptual and technical elements underlying the data collection and participants will have the opportunity to raise their views and questions.
Participants interested in attending are requested to register by sending an e-mail to firstname.lastname@example.org until Monday 18 April, COB.
The participants are welcome to include in their e-mail the points that they would like to raise.