
Insurance Regulatory Watch – December 2024
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 – DORA – Regulatory Outlook
- BVVM-UPCA has published its updated ranking of the Belgian insurance brokers landscape FR or NL
- Communication NBB_2024_20 - Insurance and Reinsurance Sector - Periodic Reports and Financial Statements to be Submitted to the Bank in 2025 FR or NL

Sustainability
Focus areas: Taxonomy – SFDR – CSRD – CSDDD – Sustainability preferences – Climate Risks – Greenwashing – Stress testing – ORSA – Protection Gap - …
- FSI and IAIS publish joint note on parametric insurance
- Newsletter for insurance intermediaries: Rules on sustainable finance for insurance intermediaries FR or NL
- EIOPA and ECB propose European approach to reduce economic impact of natural catastrophes
- 2 DECEMBER 2024 – Publication in the Belgian Official Gazette of the law on the disclosure of sustainability information by certain companies and groups, and the assurance of such information, transposing the CSRD into Belgian law FR or NL
Risk Culture & Governance
Focus areas: Business Continuity / Operational Resilience – COVID – Culture - Governance & Risk Management - Outsourcing – Recovery & Resolution - Solvency II
- IAIS Global Insurance Market Report 2024 highlights key risks and trends facing the global insurance sector
- IAIS Insurance Capital Standard – Level 1 & 2 textes
- IAIS Insurance Capital Standard – Calibration document
- IAIS Insurance Core Principles and Common Framework for the Supervision of Internationally Active Insurance Groups
- IAIS adopts Insurance Capital Standard and other enhancements to its global standards to promote a resilient insurance sector
- EIOPA updates representative portfolios to calculate volatility adjustments to the Solvency II RFR term structures
- EIOPA’s financial stability report sees insurers and pension funds weathering a complex and uncertain risk landscape
- EIOPA’s stress test shows EU insurers can handle surging geopolitical risks but at a heavy price
- The results of the 2024 NBB stress test for the insurance sector are now available on the websites of the Bank FR or NL

Data
Focus areas: DORA – GDPR – Technology / Data / Innovation (AI) – Information and Communication Technology – Open insurance
- EDPB clarifies rules for data sharing with third country authorities and approves EU Data Protection Seal certification
- ESAs provide Guidelines to facilitate consistency in the regulatory classification of crypto-assets by industry and supervisors
- EDPB newsletter on data protection standards, our work on artificial intelligence and more
- The ESAs’ Dry Run exercise shows the goal of reporting of registers of information under Digital Operational Resilience Act in 2025 within reach
- EDPB opinion on AI models: GDPR principles support responsible AI
- EIOPA revokes previous guidelines to avoid duplications and overlaps with DORA
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.