What are the main challenges of the implementation of the new supervisory technologies?The use of supervisory technology is already a reality in many national competent authorities and at EIOPA as well. Supervisors use technology (so called “SupTech”) to enhance internal administrative supervisory...

In December 2020, the European Insurance and Occupational Pensions Authority (EIOPA) concluded its review of Solvency II. As we wait for the European Commission proposals in response to our Opinion, it is worth recapping the core elements of EIOPA’s Opinion.Since its implementation, Solvency II...

What is the actual role and contribution of insurance undertakings regarding their ESG risk mitigation in the EU economy?There is a growing urgency to tackle environmental, social and governance-related risks. As news of devastating natural catastrophes fills our screens and we see first-hand the...

Digital operational resilience is essential for a well-functioning financial services sector. As the digital transformation of the sector accelerates, addressing the risks of digital innovation becomes increasingly important.The proposal for a Digital Operational Resilience Act – or DORA, as part...

What is special about securitisations is that they should not be special. In other words the prudential framework for insurers, including capital charges, should reflect the riskiness of the securitisation. Only through such treatment can the principal aim of protecting policyholders be best...

The development of the Insurance Capital Standard (ICS) by the International Association of Insurance Supervisors (IAIS) as part of its comprehensive group-wide Common Framework (ComFrame) for the supervision of Internationally Active Insurance Groups (IAIGs) has been, since its inception...

Estimates put close to 20% of EU citizens at risk of poverty or social exclusion in older age. This makes pensions adequacy and coverage becomes a priority for governments.Yet, for many people pensions are a complex and confusing, and this makes people reluctant to invest in long-term savings...

Although financial markets have gradually stabilised after the initial sharp drop in asset prices triggered by the COVID-19 outbreak, the ongoing lockdowns in most European countries cause uncertainty and medium-term risks for the economies. In addition, potential cliff-edge effects could...

Why does EIOPA think it is important for insurers to take into account the risks of climate change now and focus on this part of the strategic agenda of the European Union, rather than other challenges?“Of course we prioritize all areas, but I think arguably all issues related to climate change...