Insurance Regulatory Watch – April 2025
Our Insurance Regulatory Watch provides you a clear and simple overview of the latest regulatory developments and publications in the insurance sector, in the domains of Regulatory Change & Compliance, Sustainability, Risk Culture & Governance and Financial Crime at the international, European and Belgian level.
Any questions or comments, or interested in a discussion on any of these topics, just get in touch!
Topics
- Regulatory Change & Compliance
- Sustainability
- Risk Culture & Governance
- Financial Crime
- Data
Regulatory Change & Compliance
Focus areas: Consumer Protection (IDD – POG – Value for Money) – RIS – Transparency – Regulatory Outlook
- EIOPA follows a comprehensive and balanced approach to simplification amid push for competitiveness
- EIOPA published its Costs and past performance report
- ESAs published the Joint Annual Report for 2024
Sustainability
Focus areas: Taxonomy – SFDR – CSRD – CSDDD – Sustainability preferences – Climate Risks – Greenwashing – Stress testing – ORSA – Protection Gap - …
- Insurers launch monitor that makes climate damage per municipality accessible to everyone FR or NL
- New EU directive postpones application of corporate sustainability reporting and due diligence requirements
- IAIS publishes detailed application paper on supervision of climate-related risks in the insurance sector
Risk Culture & Governance
Focus areas: Business Continuity / Operational Resilience – COVID – Culture - Governance & Risk Management - Outsourcing – Recovery & Resolution - Solvency II
- Communication NBB_2025_05 – Digitisation of the qualifying holding (QLF) forms and new validation method for the QLF and fit & proper (FAP) forms FR or NL
- EIOPA launches Europe-wide liquidity stress test of occupational pension funds
- Circular NBB_2025_06 – Circular on the valuation of mortgage loans under Solvency II FR or NL
- FSB finalises the common Format for Incident Reporting Exchange (FIRE)
- Biannual report on supplementary pensions for the self-employed FR or NL
- Biannual report on supplementary pensions for employees FR or NL
- 25 MARCH 2025 – Law on the digital operational resilience of the financial sector and containing various provisions (1) FR or NL
- EIOPA opens first set of consultations in preparation for the EU’s insurance recovery and resolution framework
- EIOPA's insurance dashboard shows overall stable risk landscape but geopolitical uncertainties worsen the outlook for macro, market, and digitalisation risks
Financial Crime
Focus areas: AML/CFT - Financial Crime – Fraud
- FSMA Periodic Questionnaire on the Prevention of Money Laundering and Terrorist Financing FR or NL
- COUNCIL IMPLEMENTING REGULATION (EU) 2025/689 of 4 April 2025 implementing Regulation (EU) No 359/2011 concerning restrictive measures directed against certain persons, entities, and bodies in view of the situation in Iran
Data
Focus areas: DORA – GDPR – Technology / Data / Innovation (AI) – Information and Communication Technology – Open insurance
- Judgment of the Court (Fifth Chamber) of 13 February 2025 – Interpretation of Articles 83(4) to (6) of the GDPR regarding the concept of 'undertaking' and the calculation of fines based on worldwide annual turnover for GDPR infringements
- EDPB adopts guidelines on processing personal data through blockchains and announces cooperation with the AI office on guidelines related to the AI Act and EU data protection law
- Artificial intelligence and public services: CNIL publishes results of its “sandbox” for testing AI-related technologies and their impact on data protection
- EDPB annual report 2024: protecting personal data in an evolving landscape of digital transformation and data protection challenges
- EDPS Annual Report 2024: acting for the future of data protection, preparing for diverse possibilities and risk that the digital landscape represents
- Meta's AI training on your data: how to object if you want to prevent the use of your personal data for AI training purposes under GDPR regulations
- Annual report: CNIL's achievements and key actions in 2024 with a focus on privacy protection and digital innovation
The Ensur Insurance Regulatory Watch is not intended to serve as legal advice and is provided for informational purposes only. It is not intended to form the basis of any decisions and you should not rely on its content for any purposes whatsoever.
