In Brief: Consumer Trends Report 2019​

Key findings:

  • Transparency and disclosure of information to consumers has overall improved
  • The digitalisation of the insurance sector continues showing potential for improving the consumer experience and brings new opportunities for insurers
  • However, areas that could cause potential consumer detriment continue being reported, with possible risks for consumers across the product lifecycle
  • Particular concerns relate to unit-linked, credit life/credit protection and add-on insurance products as well as claims management in motor insurance

Official Journal (C Series): Winding-Up Proceedings Decision to start winding-up proceedings in respect of Quick-Sure Insurance Limited

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Official Journal (C Series): Winding-up proceedings in respect of Elite Insurance Company Limited

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Official Journal (L Series): Commission Implementing Regulation (EU) 2020/193 of 12 February 2020 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2019 until 30 March 2020 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance

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Press Release: EIOPA sets out strategies on cyber underwriting and SupTech

The European Insurance and Occupational Pensions Authority (EIOPA) has published its strategies for cyber underwriting and supervisory technology, or SupTech. The strategies reflect strategic priorities and respond to the evolving insurance landscape, in particular related to digital technology. 

Speech: European Parliament:Opening statement by EVP Dombrovskis on ECB annual report

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Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2014/65/EU on markets in financial instruments and Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

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Progress on financial services legislative files

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Press Release: Guidelines on outsourcing to cloud service providers now available for national supervisory authorities

Guidelines on outsourcing to cloud service providers now available for national supervisory authorities to consult. The Guidelines shall provide guidance to market participants on how the outsourcing provisions set forth in the Directive 2009/138/EC, in the Commission’s Delegated Regulation 2015/35 and in EIOPA’s Guidelines on System of Governance need to be applied in the case of outsourcing to cloud service providers.

Notice of Meeting: Working Party on Financial Services (Motor Vehicle Insurance – attachés only) (25 February 2020)

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UPDATED – Merger Case: M.9719 FFHL/ OMERS/ RIVERSTONE

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Event: Workshop on climate-change related risks (Frankfurt am Main, 27 February 2020)

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Amendments to the Draft Opinion: EP BUDG Committee on the European Semester for economic policy coordination: Annual Growth Survey 2020

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2020 Commission Work Programme: Finance

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OPP Meeting Summary: EP CONT Committee – Exchange of views on Farmers’ income stabilisation (28 January 2020)

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Commission Expert Group on Banking, Payments and Insurance (19 February 2020)

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Speech: Solvency II Review: keynote speech by EVP Dombrovskis

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OPP Meeting Summary: EP ECON Committee – Banking Union Annual Report 2019 (23 January 2020)

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OPP Meeting Summary: EP ECON Committee – Economic dialogue and exchange of views with Zdravko Marić, ECOFIN Chair and Deputy Prime Minister of the Republic of Croatia and Minister for Finance (22 January 2020)

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OPP Meeting Summary: Economic and Financial Affairs Council – Presentation of the Presidency work programme (21 January 2020)

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