Question ID: 2938
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
Status: Final
Date of submission: 14 Dec 2023
Question
For the template S.14.02 in the column "C0100 Total amount of commissions paid during year" Eiopa requires to include "any form of monetary benefits which is paid to an insurance distributor by any other person than the customer or a third party acting on behalf of the customer, in relation to insurance distribution activities". We would like to know if in this definition we have to include also the over commissions paid to an insurance distributor when he achieves some production targets set by the company. These over commissions are not commissions calculated as a percentage of the premium paid by the customer for a specific insurance coverage or product; they are paid only if the distributor meets the overall goals in terms of production.
EIOPA answer
Yes, also paid bonuses and any monetary incentive should be reported under C0100.