Insurance Regulatory Watch – February 2022
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.
Topics
- Regulatory Change & Compliance
- Sustainability
- Risk Culture & Governance
- Financial Crime
Regulatory Change & Compliance
Focus areas : Brexit - Consumer protection – PRIIPs – Regulatory Outlook
- European Commission's Targeted consultation on options to enhance the suitability and appropriateness assessments
- EIOPA's Supervisory Convergence Plan for 2022
Sustainability
Focus areas: impact of sustainable finance on insurance
- Sustainability: Guide to the new reporting obligations for listed companies (NFRD)
- Commissioner McGuinness’ press conference on the EU Taxonomy Complementary Climate Delegated Act
- European Commission's Q-A on the EU Taxonomy Complementary Climate Delegated Act covering certain nuclear and gas activities
- European Commission's press release on the release of EU Taxonomy Complementary Climate Delegated Act to accelerate decarbonization
- Insurance Europe's response to EIOPA’s climate change ORSA guidance
- Insurance and Reinsurance Stakeholder Group - Advice on consultation paper on Application guidance on running climate change materiality assessment and using climate change scenarios in the ORSA
- Insurance Europe's key messages on the EC’s proposal for an EU Green Bond Standard (EUGBS)
- Council adopts its position on the Corporate Sustainability Reporting Directive
- Insurance Europe's key messages on the EC’s proposals for the Corporate Sustainability Reporting Directive (CSRD)
- Proposal for a Directive on Corporate Sustainability Due Diligence
Risk Culture & Governance
Focus areas: Business continuity / operational resilience – COVID – Culture - Governance & risk management - Open insurance – Outsourcing - Solvency II - Information and Communication
- European Supervisory Authorities (EBA, EIOPA and ESMA)'s joint report in response to the European Commission’s February 2021 Call for Advice on Digital Finance
- Insurance Europe's key messages on the EC’s proposals for the review of the Solvency II prudential framework and the proposed Insurance Recovery & Resolution Directive (IRRD)
Financial Crime
Focus areas: AML/CFT - Financial Crime - Fraud
- EU sanctions against Russia following the invasion of Ukraine
- Council implementing regulation on specific restrictive measures directed against certain persons and entities with a view to combating terrorism, and repealing Implementing Regulation (EU) 2020/1128
- NBB's Circular NBB_2022_04 / Prudential expectations regarding the AMLCO activity report
- NBB's Circular NBB_2022_06 / Periodic questionnaire on combating money laundering and terrorist financing
- NBB's Circular laying down Prudential expectations on de-risking
- European Commission's Delegated Regulation amending the list of High-risk third countries
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.
