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RSSI would like to have some insight regarding the validation rules TV1002_1 & TV1002_2 .These validations check that the amount specified in the notional amount of the derivative in original currency (C0131) matches with the currency input of the field Currency (C0370).However, I cannot see how we can compare figures with currencies? Do you have an example to provide for this validation?
- Topics:
- Validations
In the order of the modification of QRT SE.06.02 of Taxonomy 2.8.0 where the two variables "Issue Price" and "Cancellation Option" have been included, I was wondering if you could give a broader definition on this matter, as in the Log there is no clear definition. When you report the variable "Issue Price" you are looking for the price in percentage or monetary value and this price is only applicable to derivatives or applies to other types of assets. In the "Cancellation Option" variable, this variable refers to Option Calls, Puts or both, and to buy or sell.
- Topics:
- Reporting Templates
With regards to the exemption that ancillary insurance intermediaries (EAII) can avail of (premiums less than €600 pa), can you tell me what the rules and implications are for both customer and intermediary if an insurance product was sold in error for a premium in excess of the threshold please? Also, is there flexibility in the rules whereby an EAII can sell insurance products in a structured approach to keep within the €600 limit? For example, Customer A buys Policy No 1 with an annual premium of €599, and later in the same policy year purchases Policy No 2
- Topics:
- Information provided by ancillary intermediaries, information exemptions and flexibility clause (Art. 21 and 22 IDD)
Regarding the new template E.04.01 for 2.8 and the unofficial reporting template instructions on ECB add-ons, could EIOPA please provide some clarifications below:
1. Materiality threshold - Could you please provide additional clarification on this?
2. Non-index-linked and non-unit-linked insurance: Does this only refer to Insurance with profit participation? Or this covers all other insurance such as other life insurance. The annotated template make reference to Insurance with profit participation but not other life insurance on this section.
- Topics:
- Reporting Templates
- C0290: The title of the field is "Cashed Premium - gross". However, the description contains "premiums […] reduced by the amount ceded to reinsurance". Is the gross or the net value to be reported here?
- Topics:
- Reporting Templates
Downloading your risk free interest rates the last two months, there has been an error in the EIOPA_RFR_20231130_Term_Structures.xlsx in the VA sheet. It is not calculated, so you have to enable editing for the values to show.
- Topics:
- Risk Free Rate (RFR)
I would like to know if there is a documents describing the rules and principles that EIOPA follows in the process of carrying out the guidelines ("not repeating the regulation", "not create an additional requirement compared to levels 1 and 2"...).
- Topics:
- Other
Article 10, Par. 8, of the IDD states the following: “To ensure compliance with the requirements in paragraphs 1, 2 and 3, insurance and reinsurance undertakings shall approve, implement and regularly review their internal policies and appropriate internal procedures. Insurance and reinsurance...
- Topics:
- Professional requirements (Art. 10 IDD)
In light of Article 18(1) of Directive 2009/138/EC, Article 1(53) of Commission Delegated Regulation
(EU) 2015/35 and the general investment rules, can an insurance undertaking conduct industrial forestry
(silvicultural activities) in a subsidiary, i.e. where the insurance undertaking has a controlling interest?
In particular, would the definition of an ancillary service undertaking in Article 1(53) of Commission
Delegated Regulation (EU) 2015/35 be relevant for determining whether an insurer may invest in
industrial forestry (silviculture activities)?
- Topics:
- Other
I have a question regarding R0020 in the S.06.04 effective 31 Dec 2023 Can you please aid our understanding of 'property' in the context of exposure to physical risk. Does your definition of property extend to right of use assets (such as leased buildings for its employees) in addition to other fixed assets such as IT equipment, furniture and fixtures?
- Topics:
- Reporting Templates