EIOPA has issued its recommendations on supervisory flexibility regarding deadlines of supervisory reporting and public disclosure by insurers in light of the COVID-19 developments.
The recommendations will enable insurers to concentrate efforts on monitoring and assessing impact of COVID-19 and maintaining business continuity.
In addition, EIOPA said the recommendations aim to offer operational relief in allowing for delays in reporting and public disclosure in cases such as annual reporting referring to year-end occurring on 31 December 2019, quarterly reporting referring to Q1 2020 and Solvency and Financial Condition Report referring to year-end occurring on 31 December 2019.
To view the recommendations in full click here