EIOPA · 3036
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- S.14.03 - Cyper underwriting risk
- Topic
- Reporting Templates
- Submitted
- 2024-03-14
- Answered
- 2024-06-18
Question
There are two products A and B with the same Product Identification, same set of LoB and the same set of Risk coverage; the only difference is in C0040 Cyber coverage in the Product indentification, Product A -> (1) Cyber Standalone Coverage, Product B -> (2) Cyber as add-on coverage but the main risk being covered. o Could you please confirm, that the two products A, B cannot be aggregated via C0040 -> (1), (2), each product should be reported using individual lines. o Could you please confirm, that the two products should have different Product Group Codes.
Answer
For the purpose of C0040 in template S.14.03, if two commercial products have the same Product Identification and the same set of LoB, but refer to different risk coverages, then there will be as many line identifier reported as needed to reflect the number risk coverages.
Products within the same Product Identification that do not share the same risk coverages cannot be aggregated and therefore should have different Product Group Codes.
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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