Question ID: 1353
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Article: 129
Status: Final
Date of submission: 03 Apr 2019
Question
MTPL bsuiness: Insurance contract is concluded with particular limits (e.g. in Czech Republic typically 35/35, 75/75, 100/00 where X/X refers to "bodily injury/material injury"). These are deemed policy limits. Nevertless insurance company covers also damages outside Czech Republic where limits can be "unlimited" (e.g. in France) regardeless what is stated in the insurance contract. Where such contracts (cars) should be assigned:
a) Na (deemed policy limit above EUR 24 000 000)
b) Nb (deemed policy limit below or equal to EUR 24 000 000)
EIOPA answer
The formula provided in Article 129 of the Delegated Regulation (EU) 2015/35 requests insurance and reinsurance undertakings to determine the number of vehicles with a deemed policy limit above EUR 24 million (Na) and the number of vehicles with a deemed policy limit below or equal EUR 24 million (Nb).
In both cases, the number of vehicles should be determined only by looking at the policy conditions and not by looking at the countries where the vehicles will be driven.