Question ID: 2913
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Template: S.14.02, S.14.03
Status: Final
Date of submission: 30 Nov 2023
Question
We would like to have some clarification regarding the following templates:
Question 1:
S.14.03: Regards the new S.14.03 QRT, for the expected scope, does the QRT concerns all contracts that were in the portfolio for at least one day during the year under review or just the contracts in force at the end of the year?
Question 2:
S.14.03: Could you please confirm if in the fields C0090 "Premium(s)", C0120 "Amount of Claims Paid", C0140 "Technical Provisions" we should consider gross or net (reinsurance and co - insurance) amount? Could you please also confirm if in the fields C0110 "Number of Claims settled with Payment'', C0130 "Number of Claims settled without payment" should be considered the share of claims retained after the application of reinsurance and co - insurance treaties? For example, assuming we have a single claim to which a Quota Share treaty of 80% is applied, should the field be filled in by entering 1 or 1 x (1 - 80%) = 0.2?
Question 3:
S.14.02: Could you please clarify with some examples what would you expect in fields C0070 "Total amount of Gross Written premiums - written directly by the insurance undertaking" and C0090 "Total amount of Gross Written premiums - written via insurance distributors other than credit institutions"? In which of the two fields should contracts sold via broker be included?
EIOPA answer
Question 1:
The ITS on Reporting clarifies that the template shall be subject to the application of a threshold based on the following: — The sum of premiums earned for standalone cyber policies and policies with cyber as add-on coverage (where only the (estimated) premiums earned for cyber risk should be taken into account) is greater than 5 % of the overall non-life business pursued by the undertaking or greater than 5 million EUR OR — Number of policies that include cyber coverage (i.e. standalone cyber and/or cyber ad add-on policy) represent more than 3 % of the total number of policies of the non-life business). Provided that those conditions are met, all contracts underwritten during the year should be reported.
Question 2:
The fields C0090 "Premium(s)", C0120 "Amount of Claims Paid", C0140 "Technical Provisions" should be considered as gross amounts.
Regarding the fields C0110 "Number of Claims settled with Payment'', C0130 "Number of Claims settled without payment", the actual count of claims should be reported and not a proportion after reinsurance or co-insurance. Therefore, in the case of a single claim where an 80% Quota Share treaty applies, this should be reported as one claim in both fields C0110 and C0130.
Question 3:
The Gross Written premiums stemming from contracts sold via brokers should be included in C0090 "Total amount of Gross Written Premiums - written via insurance distributors other than credit institutions".