Insurance Regulatory Watch – July 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 publishes its 2024 oversight activity report
- FSMA issues opinion on postponement of repeal of article 23 of the motor vehicle liability insurance act FR or NL
- Approved compliance officers do not sufficiently comply with continuing education requirements FR or NL
- OCM-CDZ Annual Report 2024 FR or NL
- The FSMA has clarified in what circumstances does a comparison website carry out insurance distribution activities FR or NL
Sustainability
Focus areas: Taxonomy – SFDR – CSRD – CSDDD – Sustainability preferences – Climate Risks – Greenwashing – Stress testing – ORSA – Protection Gap - …
- FSB Roadmap for Addressing Financial Risks from Climate Change: 2025 update
- EFRAG Launches ESRS Statistics and Report Portal on the 2025-Issued ESRS Sustainability Statements and Publishes “State of Play 2025” Report
- EFRAG welcomes the European Commission’s adoption in the form of Recommendation for the Voluntary Sustainability Reporting Standard for non-listed Micro-, Small-, and Medium-sized Enterprises (VSME) released by EFRAG in December 2024
- EFRAG Shares Revised ESRS Exposure Drafts and Launches 60-Day Public Consultation
- NGFS Annual report
Risk Culture & Governance
Focus areas: Business Continuity / Operational Resilience – COVID – Culture - Governance & Risk Management - Outsourcing – Recovery & Resolution - Solvency II
- EIOPA publishes biannual shifted risk-free rates for duration calculation in financial stability reporting – end-June 2025
- EIOPA issues Opinion on the supervision of liquidity risk management of Institutions for Occupational Retirement Provision (IORPs)
- EIOPA submits first bundle of technical standards to the European Commission after the review of Solvency II
- EIOPA sets out guidance for supervising mass-lapse reinsurance and reinsurance termination clauses
- EIOPA has issued a public statement on the findings of a monitoring exercise exploring how (re)insurers in Europe are integrating climate change-related risks in their Own Risk and Solvency Assessment (ORSA)
- EIOPA published the follow-up report to its 2022 Peer Review on Outsourcing under the Solvency II framework
- EIOPA published its July 2025 Risk Dashboard for Institutions for Occupational Retirement Provision (IORPs) based on Q1 2025 pension reporting data and Q2 2025 market data
- EIOPA published its July 2025 Insurance Risk Dashboard based on Q1 2025 Solvency II data and Q2 2025 market data
Financial Crime
Focus areas: AML/CFT - Financial Crime – Fraud
- EU aligns third countries with restrictive measures related to Russia, Ukraine, South Sudan, Moldova, Haiti, and serious human rights violations (Council Decisions CFSP 2025/1320, 2025/1349, 2025/1397, 2025/1429, 2025/1435, 2025/1439, 2025/1110)
- AMLA and ECB sign Memorandum of Understanding outlining how they will work together
- AMLA signs Memorandum of Understanding with the European Supervisory Authorities for effective cooperation and information exchange
- FATF Report Highlights Growing Threats and Gaps in Understanding Terrorist Financing
- Universal Procedures for Mutual Evaluations Aligned with FATF 2013 Methodology (Updated June 2025)
- FATF’s 2022 Procedures for AML/CFT Mutual Evaluations, Follow-Up, and ICRG Oversight (As Amended June 2025)
- FATF Consolidated Processes and Universal Procedures for Mutual Evaluations and Follow-Up (June 2025 Update)
- EBA Opinion on MLTF risks
- Opinion and Report on money laundering and terrorist financing risks affecting the EU's financial sector
Data
Focus areas: DORA – GDPR – Technology / Data / Innovation (AI) – Information and Communication Technology – Open insurance
- Targeted modifications of the GDPR: EDPB & EDPS welcome simplification of record keeping obligations and request further clarifications
- FSMA’s supervision successfully carried out this exercise as required by the DORA Regulation– Collection of information registers of third-party service providers closed FR or NL
- EDBP Statement 4/2025 on the European Commission’s Recommendation on draft non-binding model contractual terms on data sharing under the Data Act
- ESAs publish a guide on DORA Oversight activities
- AI: The CNIL finalizes its recommendations on the development of artificial intelligence systems and announces its upcoming work
- European Commission brings use of Microsoft 365 into compliance with data protection rules for EU institutions and bodies
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.
