Question ID: 944
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 08 Dec 2016
Question
In the consultation paper EIOPA was stipulating that historical data starting from first year will only be required for some of the triangles :
"ix. Historical data, starting from the first time application of Directive 2009/138/EC , are required for the triangles referred claims paid and reported but not yet settled claims, as specified in sub-paragraphs ii)1), ii)3), ii)4), ii)6),ii)7) and ii)9)"
Such sentence is no longuer written in the last version of the ITS, does it mean that historical detailed data must be provided starting from the first year of reporting?
EIOPA answer
As stated in the S.19.01 LOG (Annex II of the Commission Implementing Regulation (EU) 2015/2450) historical data, starting from the first time application of Solvency II, are required for claims paid and RBNS claims but not for Best Estimate of Claims Provision.
For the compilation of the historical data for claims paid and RBNS claims the same approach concerning the length of triangle for the on-going reporting will be applied (i.e. the shorter between 15+1 years and the undertakings' claims settlement cycle).