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Today, the European Insurance and Occupational Pensions Authority (EIOPA) has published a discussion paper on non-life underwriting and pricing in light of climate change.The discussion paper highlights challenges associated with current non-life underwriting practices and options to ensure the...
Today, the European Insurance and Pensions Authority (EIOPA) published the results of its peer review on the cooperation between supervisory authorities in the European Union (EU) on the supervision of cross-border activities of insurance undertakings. Increased cross-border activity in the EU...
The Joint Committee of the European Supervisory Authorities (ESAs) – ESMA, EBA and EIOPA – wish to highlight the impact in the change of status of ‘Simple, Transparent and Standardised’ (STS) securitisation transactions after the end of the Transition Period on 31 December 2020.For a...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) launched its first pilot dashboard, which depicts the insurance protection gap for natural catastrophes. The aim is to represent the drivers of a climate-related insurance protection gap in order to identify measures that...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) submitted to the European Parliament, the Council of the European Union and the European Commission, its 2020, fifth and last Annual Report on Long-Term Guarantees Measures (LTG) and Measures on Equity Risk.The analysis...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published a discussion paper on a methodology for the potential inclusion of climate change in the Solvency II standard formula when calculating natural catastrophe underwriting risk.This discussion paper is a follow-up to...
The European Insurance and Occupational Pensions Authority (EIOPA) started today a consultation on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build those ratios...
Today, the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) re-elected Mr Peter Braumüller, Managing Director of Insurance and Pension Supervision at Austrian Financial Market Authority (FMA) as Vice-Chairperson of EIOPA.In addition, Ms Zuzana Silberova...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation on the Statement on supervisory practices and expectations in case of breach of the Solvency Capital Requirement (SCR).EIOPA is gathering feedback on this statement which aims to promote supervisory...
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA), the European Supervisory Authorities (ESAs), have today published a final report with draft regulatory technical standards (RTS)...
The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) decided yesterday not to draw up at this moment in time a shortlist of qualified candidates for the position of EIOPA Chairperson, but to launch a new selection procedure. The new recruitment procedure...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published a supervisory statement on the sound supervisory practices for registering or authorising Institutions for Occupational Retirement Provision (IORPs), including the assessment of suitability for cross-border...
The European Insurance and Occupational Pensions Authority (EIOPA) launched today a survey on the application of the Insurance Distribution Directive (IDD) that entered into force on 23 February 2016. The aim of the survey is to gather feedback from stakeholders on the experience with the...
On 05 November 2020, Národná banka Slovenska (NBS), the Slovakian national supervisory authority, has issued an interim measure to NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. (NOVIS) prohibiting free disposal of its assets. The...
Today the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the second quarter of 2020 Solvency II data.The results show that the risk exposures of the European Union insurance sector slightly reduced, compared to July risk assessment...
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) published today its decision in relation to an alleged non-application of Union law by six...
The European Insurance and Occupational Pensions Authority has published its third annual European Insurance Overview.The European Insurance Overview report is published by EIOPA as an extension of its statistical services in order to provide an easy-to-use and accessible overview of the European...
EIOPA has launched a program of targeted training on insurance supervision for 17 national competent authorities.The training will enhance supervisory capacity of insurance national competent authorities to reinforce high-quality and effective supervision, the protection of policyholders and...
The UK transition period according to the Withdrawal Agreement will end on 31 December 2020. Following this date, all Union primary and secondary law will no longer apply to the United Kingdom, including the Solvency II Directive as well as the Directive on Insurance Distribution (IDD).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) published today its decision in the appeal case brought by Mr Howerton against the European...