Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its 2019 Annual Report, setting out its activities and achievements of the past year.

Throughout the course of the year, EIOPA continued to play an essential role in the supervision of insurance and pensions in Europe, working closely with national supervisory authorities, European institutions and other stakeholders to fulfil its strategic objectives set out in its annual work programme.

EIOPA significantly strengthened its work on conduct of business supervision. EIOPA also conducted thorough market monitoring activities. A thematic review on the use Big Data analytics in motor and health insurance lead to the establishment of a consultative expert group to assist EIOPA in the development of digital responsibility principles for the insurance sector.

In addition, a thematic review on consumer protection issues in travel insurance resulted in a warning in to insurers and insurance intermediaries to tackle high commissions for travel insurance products In the context of the Insurance Distribution Directive (IDD), EIOPA worked on a number of deliverables, including an examination of general good rules and the review of the Decision on the cooperation of competent authorities.

EIOPA also undertook considerable work as part of 2020 Review of Solvency II to ensure that the landmark regulation remains fit for purpose. In the context of the implementation of the Institutions for Occupational Retirement Provisions – IORP II Directive, EIOPA focused its work on achieving proportional and relevant application of IORP II throughout Europe.

Implementation of the supervisory convergence plan, with priority given to the application of proportionality, the supervision of internal models and the supervision of cross-border business, which resulted in continued use of cross-border platforms to address Following political agreement on the proposal for a Pan-European Personal Pension Product (PEPP), EIOPA began work on a number of specific PEPP technical deliverables.

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