EIOPA · 2745
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- Template: SE.17.01
- Topic
- Reporting Templates
- Submitted
- 2023-08-01
- Answered
- 2023-08-30
Question
One of the latest Q&As (2681) regarding the new rows of SE.17.01 clarified a question regarding a mismatch between the labels in the Annotated templates and the ECB guidance. We understood from this Q&A that there is no need to report paid claims divided into current and previous accident quarters, i.e. paid claims have to be reported by current financial year and previous years. However, the labels for both rows still seem to be interchanged compared to the guidance. Regarding to the guidance ER0421 should include the data from the current period and ER0422 should include the data from the previous period. Can you please confirm that the labels as stated in Q&A 2681 will be the order in which the data from different periods need to be reported? Will the guidance be corrected to match this change of order in this case?
Background
Preparation of new reporting requirements, mismatch between labels and guidance
Answer
Please note that EIOPA revised the answer to question 2681:
EIOPA confirms that mismatch in the label of rows ER0421 and ER0422 between the taxonomy (Annotated templates) and the guidance. The mismatch will be corrected in the 2.8.0 Hotfix as follows:
ER0421 “Gross claims paid in the current financial year relating to claims incurred before the current financial year”
ER0422 “Gross claims paid in the current financial year relating to claims incurred in the current financial year”
Please find the new instructions at the following link and in the table below: https://www.ecb.europa.eu/stats/money/icpf/shared/pdf/Instructions_for_ECB_add-ons_1.zip
ER0421
Gross claims paid in the current financial year relating to claims incurred before the current financial year
Total gross claims paid year-to-date, net of salvage and subrogation, excluding expenses. This shows the gross claims payments made in the current financial year corresponding to claims incurred in previous financial years (N-1 or prior) (which is the delay between the accident/underwriting date and the payment date).
E.g., Q1 and Q2 of financial year N would be reported as follows
Q1: Claims paid in Q1 of the current financial year (N) relating to claims incurred before the current financial year (N-1 or prior)
Q2: Claims paid in Q1 and Q2 of the current financial year (N) relating to claims incurred before the current financial year (N-1 or prior)
ER0422
Gross claims paid in the current financial year relating to claims incurred in the current financial year
Total gross claims paid year-to-date, net of salvage and subrogation, excluding expenses. This shows the gross claims payments made in the current reporting period corresponding to claims incurred in the current financial year N.
E.g., Q1 and Q2 of financial year N would be reported as follows
Q1: Claims paid in Q1 of the current financial year (N) relating to claims incurred in the current financial year (N)
Q2: Claims paid in Q1 and Q2 of the current financial year (N) relating to claims incurred in the current financial year (N)
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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