Question ID: 2592
Regulation Reference: (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII)
Topic: Solvency Capital Requirement (SCR)
Article: ANNEX IX / ANNEX XXIII/ ANNEX XXIV
Status: Final
Date of submission: 21 Aug 2023
Question
There is a mismatch between the risk zone numbers listed in Annex IX of Commission Delegated Regulation (EU) 2015/35 (DR) and the ones used in Annex XXIII DR.
In Annex IX, the risk zones for Romania (RO) are numbered from 1 to 41, while in Annex XXIII the correlation coefficients are provided for risk zones numbered from 01 to 45 but without the numbers 2, 11, 15 and 16. Although the total number of zones is the same for the two annexes (41), the zone numbers are different.
For instance, in Annex IX, the first zone number is 1 followed by 2 while in Annex XXIII the zone numbers start with 1, followed by 3. This means that the zone number for the Romanian administrative unit Arad seems to be different from one annex to another: in Annex IX the risk zone number for Arad is 2, but there is no zone number 2 for Romania in Annex XXIII.
Please see below the references.
EIOPA answer
The answer to this question has been provided by the European Commission.
The numbers in the headings of the rows and columns in the matrices of correlation coefficients for earthquake risk and flood risk in Romania set out in Annexes XXIII and XXIV of the Commission Delegated Regulation (EU) 2015/35 should be read as corresponding to the 41 risk zones in Romania listed in Annex IX. The mapping between the risk zones in Annex IX and the headings of rows and columns of the correlation matrices for earthquake risk and flood risk in Romania set out in Annexes XXIII and XXIV should be as follows:
| Administrative units in Romania | Risk Zone | Number in the headings of rows and columns in Annexes XXIII and XXIV for Romania |
| Alba | 1 | 01 |
| Arad | 2 | 03 |
| Arges | 3 | 04 |
| Bacau | 4 | 05 |
| Bihor | 5 | 06 |
| Bistrita-Nasaud | 6 | 07 |
| Botosani | 7 | 08 |
| Braila | 8 | 09 |
| Brasov | 9 | 10 |
| Buzau | 10 | 12 |
| Caras-Severin | 11 | 13 |
| Calarasi | 12 | 14 |
| Cluj | 13 | 17 |
| Constanta | 14 | 18 |
| Covasna | 15 | 19 |
| Dimbovita | 16 | 20 |
| Dolj | 17 | 21 |
| Galati | 18 | 22 |
| Giurgiu | 19 | 23 |
| Gorj | 20 | 24 |
| Harghita | 21 | 25 |
| Hunedoara | 22 | 26 |
| Ialomita | 23 | 27 |
| Iasi | 24 | 28 |
| Maremures | 25 | 29 |
| Mehedinti | 26 | 30 |
| Mures | 27 | 31 |
| Neamt | 28 | 32 |
| Olt | 29 | 33 |
| Prahova | 30 | 34 |
| Salaj | 31 | 35 |
| Satu Mare | 32 | 36 |
| Sibiu | 33 | 37 |
| Suceava | 34 | 38 |
| Teleorman | 35 | 39 |
| Timisoara | 36 | 40 |
| Tulcea | 37 | 41 |
| Vaslui | 38 | 42 |
| Vilcea | 39 | 43 |
| Vrancea | 40 | 44 |
| Bucuresti | 41 | 45 |
In the example provided, the region Arad with risk zone number 2 in Annex IX corresponds to the row and column with number 03 in the matrices of correlation coefficients set out in Annexes XXIII and XXIV.
Disclaimer by the European Commission:
The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies, in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.