EIOPA · 2973
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Topic
- Reporting Templates
- Submitted
- 2024-02-07
- Answered
- 2024-04-26
Question
Would EIOPA consider the following to be within the definition of “cyber risks underwritten” as defined in the instructions for completing form S.14.03: a policy for which the primary cover is not cyber and cyber was not bought as a specific add-on, but for which there may be unintended exposure in the case of a cyber-related event.
Answer
If an undertaking identifies the cyber coverage, it should apply good risk management practices and isolate the cyber coverage as an add-on to main product. If the cyber coverage is recognised, it should not be regarded as a form of silent cyber coverage.
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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