Question ID: 2802
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.14.03
Status: Revised
Date of submission: 22 Sep 2023
Question
We have a question regarding Template S.14.03 item C00120 Amount of Claims Paid [Amount of claims paid, for the relevant product Identification, for claims that have been settled with payment during the reporting year]. Is this metric defined in the same way as in QRT 14.02? If yes, it this should be included in the description („This shall not include changes in provisions for claims that have not yet been paid and exclude claims management expenses and the movement in provisions in claims management expenses“). If it is not the same as in QRT 14.02 it should be specified.
EIOPA answer
The answer to this question has been revised on 26/04/2024:
The metric defined for this template is similar to the one applied for QRT 14.02. C00120 should report the amount of Claims Paid, for the relevant product Identification, for claims that have been settled with payment during the reporting year. This shall not include changes in provisions for claims that have not yet been paid and exclude claims management expenses and the movement in provisions in claims management expenses. Separate fields are dedicated to claims settled without payment in terms of number.
***
Old answer published until 26/04/2024:
The metric should be claims paid incl. changes in provisions for claims that have not yet been paid and claims management expenses and the movement in provisions in claims management expenses (reason: basis for loss ratio).