EIOPA · 1032
1032
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2016-12-16
- Answered
- 2019-09-23
Question
What is the definition of closed and open claim? ie is it by claim number or by SII LOB/Heads of damage?
Eg a motor claim will fall into 'motor vehicle liability' or 'motor other'. The 'motor other' element of the claim can be settled quicker than the motor vehicle liability element, for example personal injury. If we take claim number then we will have zero outstanding on a lot of open claims. Is that what you would be expecting from the completed template?
Answer
Please note that with regard to the number of claims to be reported, undertakings will use their specific definition or, if available, specification existing at national level (for instance requirement laid down by the National Supervisory Authority). The general coment also say: "However, each claim should be reported once." This is to be interpreted "only once by LoB" in the cases where a claim is split by different LoB reported.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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