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The European Insurance and Occupational Pensions Authority has launched today a consultation on Interbank Offered Rates (IBOR) transitions.The consultation considers adjustments to EIOPA’s risk-free rate (RFR) methodology and production, in light of If the EU Benchmark Regulation (EU BMR) which...
The European Insurance and Occupational Pensions Authority (EIOPA) published today a discussion paper on blockchain and smart contracts in insurance. The aim of the paper is to provide a high-level overview of risks and benefits of blockchain and smart contracts in insurance from a supervisory...
Národná banka Slovenska (NBS), the Slovakian national supervisory authority, has issued today a statement regarding the decision on investment infringement identified in the onsite inspection against NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS...
The European Insurance and Occupational Pensions Authority (EIOPA) launched today two consultations on risk assessment by Institutions for Occupational Retirement Provisions (IORPs) providing defined contribution (DC) schemes and the supervisory reporting of costs and charges by IORPs.Draft...
The European Insurance and Occupational Pensions Authority (EIOPA) published today the calculation of the Ultimate Forward Rate (UFR) for 2022. EIOPA calculated the UFR for 2022 in accordance with the methodology to derive the UFR.For the euro, the applicable UFR as of as of 1 January 2022 will be...
The European Insurance and Occupational Pensions Authority (EIOPA) issued today an Opinion on the supervision of the use of climate change scenarios in the Own Risk and Solvency Assessment (ORSA) addressed to national supervisory authorities. In this Opinion EIOPA sets out expectations on the...
The European Insurance and Occupational Pensions Authority has today published its third report on costs and past performance of insurance-based investments products (IBIPs) and personal pension products (PPPs) in the European Union.This report provides an analysis of costs for 2019 and past...
The European Insurance and Occupational Pensions Authority (EIOPA) announced today a consultation on a framework to address value for money risk in the European unit-linked market. This consultation is a response to EIOPA’s repeatedly highlighted concerns that, while unit-linked products can and...
The European insurance and Occupational Pensions Authority (EIOPA) published today the results from its yearly study on the modelling of market and credit risk (MCRCS). This study is based on simplified asset-liability-portfolios and also focusses on the analysis of interest rate ‘down’ movements...
Today the European Insurance and Occupational Pensions Authority (EIOPA) launched its Insurance Distribution Directive (IDD) Single Rulebook.The Single Rulebook is an online tool that further promotes the consistent implementation of the regulatory framework for insurance supervision.The main...
The European Supervisory Authorities (ESAs) are organising an online public event on 29 April, from 13:00-17:30During this event the ESAs will present their proposals and open a dialogue with stakeholders on draft Regulatory Technical Standards (RTS) on the content and presentation of product...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of March 2021.RFR information has been calculated on the basis of the updated representative portfolios...
The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – published today its 2020 Annual Report, providing a detailed account of all the joint work completed over the past year.Under the EBA Chairmanship, the Joint Committee played a pivotal role in 2020 to ensure...
The European Insurance and Occupational Pensions Authority (EIOPA) published today its annual report on the use of exemptions and limitations from the regular supervisory reporting by national competent authorities (NCAs) under Solvency II, during 2019 and Q1 2020.Regarding quarterly reporting in...
The European Insurance and Occupational Pensions Authority (EIOPA) has issued today an Opinion on a proposed product intervention measure of Komisja Nadzoru Finansowego of Poland (KNF) under the Packaged Retail and Insurance-Based Investment Products (PRIIPs) Regulation.The KNF has identified...
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a Report on the application of their Guidelines on complaints-handling. The Report concludes that the Guidelines have contributed to a consistent approach to complaints-handling across...
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) re-elected Patrick Montagner, as a member of EIOPA's Management Board for another term of two and a half years. Patrick Montagner is First Deputy Secretary General at ACPR - Autorité de Contrôle...
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) issued today their first joint risk assessment report of 2021. The report highlights how the COVID-19 pandemic continues to weigh heavily on short-term recovery prospects. It also highlights a number of vulnerabilities in the...
The European Insurance and Occupational Pensions Authority (EIOPA) has completed its analysis of all published general good rules on registration and professional and organisational requirements that could potentially be non-compliant with the Insurance Distribution Directive (IDD).Overall, the...
The Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) unanimously decided that the appeal brought by an institution that wishes to stay anonymous...