EIOPA has requested market participants and (re)insurance stakeholders to provide their feedback on:
(1) The first set of draft Implementing Technical Standards (“Draft ITS”); and
(2) The draft Guidelines on the Operational Functioning of Colleges of Supervisors (“Draft Guidelines”).
The Draft ITS list all the information that (re)insurers will need to submit to national authorities for the approval of the (i) Matching Adjustment; (ii) Ancillary Own Funds; (iii) Undertaking-Specific Parameters; (iv) Internal Models; (v) Special Purpose Vehicles; and (vi) Joint Decision Process on Group Internal Models.
On the other hand, the Draft Guidelines aim to clarify and enhance cooperation among national authorities in relation to the supervision of cross-border (re)insurance groups and to facilitate the functioning of supervisory colleges.
Any feedback on both the Draft ITS and Draft Guidelines is to be submitted by 30 June, 2014.
The consultation papers and the templates can be accessed by clicking here.