EIOPA · 2677

Reporting Templates

Regulation
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Article
Template S.26.13
Topic
Reporting Templates
Submitted
2023-06-07
Answered
2023-08-21

Question

Template code: S.26.13 Template title: Internal model - Non-life & Health NSLT Underwriting risk We would like to enquire on information to be entered for all perils. Is it in general the highest sum insurred out of all the perils or something else? As we may have different Sum Insured (e.g. for Earthquake, Flood, Windstorm etc) it is not clear to us all perils Sum Insured is to be interpreted. We see two options: Option 1: Sum all Sum Insured across different perils (which seems exaggerated to us) Option 2: Report the highest Sum Insured out of all perils like we did for NLCS study

Background

For cells C0420/R1960-1990 (Total Sum Insured – Reinsurance) is in the document “2450_ITS_reporting_consolidated_AnnexII_solo instructions_S.26.02_to_S.36.05.docx”, page 100 written: “The insurance or reinsurance undertaking is expected to split their total sum insured for reinsurance by geographical region. Geographical regions to be used are Europe, North America and Rest of World. Any unallocated premium should be put in the Unallocated bucket.”

Answer

Contracts may have differing but overlapping coverage. In cases where the highest sum insured for a combination of perils is requested please remove the overlap and please report the highest Sum Insured out of all perils similar to the NLCS study (option 2) for cells C0420/R1960-1990.

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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