Question ID: 3034
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: S.14.03 - Cyper underwriting risk
Template: S.14.03
Status: Final
Date of submission: 14 Mar 2024
Question
Could you please confirm whether the QRT S.14.03 should only refer to the direct business and accepted reinsurance business underwritten by the respective insurer in the home country, or whether it should also include the "outgoing" business through branch/business underwriting under freedom to provide services/rest of the world?
Background of the question
Based on our analyses of the market in Germany, we know that a large part of the business is generated by national insurers in foreign regions.
EIOPA answer
The template S.14.03 is relevant to non-life insurance and reinsurance undertakings which underwrite products covering cyber risks. Business underwritten under FoS or FoE should be included in C0090.