- pension scheme | insurance | financial supervision
Following EIOPA’s recent pilot exercise on climate change adaptation in non-life underwriting and pricing, EIOPA has launched 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.
All participants to the data collection exercise were invited to attend a virtual workshop organized by EIOPA on the 20 April from 11h30 to 12h30.
The workshop highlighted the key conceptual and technical elements underlying the data collection.
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 web page 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.
Questions and answers:
(file name, paragraph/tab, cell)
Data-Template, pools composition
Shall we submit data for a LoB where there was no adaptation measure until year 2019 and from Year 2019 on, 100% of the Lob has adaptation measure (example warning message in case of storm for all clients) ?
The (re-)insurance undertakings are not expected to submit data if an underwriting pool cannot be split into comparable sub-pools in terms of the treatment group with adaptation measures and the reference group without adaptation measures.
EIOPA relies on (re-)insurance undertakings actuarial judgement to assess if the sub-pools are suitable for comparison. In case of limits (for example – not suitable for comparison on a year by year basis), these limits should be clearly highlighted as a comment and as an entry in the qualitative questionnaire
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