The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation on two proposed annexes to its 2021 Opinion on risk mitigation techniques. The first annex provides supervisory guidance on the treatment of mass-lapse reinsurance and the second annex focuses on reinsurance termination clauses that may compromise effective risk transfer. Responses are due by 7 February 2025.

The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation on its proposal to develop a natural catastrophes awareness tool. The tool aims to raise awareness about potential climate-related risks, the importance of adequate insurance coverage, and available prevention measures to reduce potential losses. Responses are sought by 28 February 2025.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation on natural catastrophe risk reassessments in the standard formula. The objective of EIOPA’s review is to better capture the risks associated with perils such as earthquakes, floods, hail, and windstorms, using new insights, data, and models that have come online since the last reassessment in 2018. EIOPA proposes new risk factors for 25 perils/regions across five perils and suggests including more countries in the standard formula for which certain natural catastrophe risks were previously not covered. The deadline for submission of stakeholder feedback is 20 June 2024.

The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation paper on revised Guidelines for determining the market share of undertakings eligible for limited reporting requirements under Article 35(11) of Directive 2009/138/EC (the Solvency II Directive). This review follows the recent Solvency II review and aims to align the Guidelines with the updated regulatory framework, while also simplifying them. The consultation seeks to address the need for clearer roles for supervisory authorities and undertakings in the reporting process and to encourage the use of exemptions or reduced reporting requirements. Responses are sought via an online survey by 28 April 2025.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched two consultations on draft technical standards under the Insurance Recovery and Resolution Directive (Directive (EU) 2024/2979) (IRRD), which is expected to become operational in 2027. The first consultation concerns draft regulatory technical standards (RTS) on the establishment and functioning of resolution colleges, which will coordinate resolution planning and execution for insurance groups. The second covers draft implementing technical standards (ITS) specifying procedures and standardised templates for insurers to submit information to resolution authorities for the preparation of resolution plans. Responses to the consultations are sought by 31 October 2025.

EU Law analysis: the European Insurance and Occupational Pensions Authority (EIOPA) has published its May 2024 Insurance Risk Dashboard, which shows that risks in the EU’s insurance sector are stable and overall at medium levels, with pockets of vulnerabilities stemming from market uncertainty and potential risks in the real estate sector.

The European Insurance and Occupational Pensions Authority (EIOPA) has published its February 2024 Insurance Risk Dashboard, which reveals insurers’ exposure to market risk is at a high level and the key concern for the sector. Macro and digitalisation risks are still relevant but have decreased to medium levels. Risk levels for the remaining risk categories are at medium levels. The data is based on financial stability and prudential reporting collected from 92 insurance groups and 2175 solo insurance undertakings.

The European Insurance and Occupational Pensions Authority (EIOPA) has issued its fifth annual report on administrative sanctions and measures imposed by National Competent Authorities (NCAs) under the Insurance Distribution Directive (IDD) for 2023. The report highlights an increase in sanctions related to product oversight, governance, and general conduct of business requirements across 20 Member States.

The European Insurance and Occupational Pensions Authority (EIOPA) has issued its Final Report on the revised guidelines on the methods for determining the market shares for reporting, finalising the review of its 2015 guidelines under the Solvency II Directive. The report includes the final revised guidelines and an explanatory text, and a feedback statement following public consultation. The revised guidelines will apply from 30 January 2027, replacing the 2015 version.

The European Insurance and Occupational Pensions Authority (EIOPA) has issued a Supervisory Statement to guide supervisors on how insurers should treat foreseeable dividends under Solvency II. This guidance aims to promote supervisory convergence by addressing different market approaches to deducting foreseeable dividends from insurers' own funds.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched its 2024 stress test which applies insurers in the European Economic Area to a hypothetical scenario of severe but plausible adverse developments in financial and economic conditions. Participating undertakings will have until mid-August 2024 to calculate their results based on the prescribed scenario and submit them to the relevant national supervisor. Once the results are submitted, EIOPA will undertake a quality assurance process to validate the results, which is expected to last until end of October 2024.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched CLIMADA-App: its open-source, free tool for the modelling and management of climate change risks and accompanying documentation. The app was developed through a collaboration between EIOPA and the Eidgenössische Technische Hochschule (ETH) Zürich. EIOPA says it has created a user interface that transforms CLIMADA’s ‘data treasure chest into a handy platform’.