EIOPA Releases Editable Template for IPID
EIOPA released an editable template for the Insurance Product Information Document (IPID). EIOPA has worked with EC to develop an electronic and editable version of the IPID template in all official languages of the EU.
The files are available in Adobe InDesign (.indd) format only and follow the layout shown in the Annex to the Commission Implementing Regulation (EU) 2017/1469 are consistent with the relevant colors, fonts, and logos required by the regulation. These files are intended to provide technical aid to manufacturers of non-life insurance products developing IPIDs. Under the Insurance Distribution Directive (IDD), consumers will benefit from a simple, standardized IPID, which aims to provide clearer information on non-life insurance products to enable consumers to make more informed decisions. Following consumer testing, EIOPA developed draft implementing technical standards on a standardized presentation format for the IPID, which were submitted to EC in February 2017 and have since been incorporated in Commission Implementing Regulation (EU) 2017/1469.
Related Links
Keywords: Europe, EU, Insurance, IPID, Nonlife Insurance, CIR 2017/1469, IPID Template, EIOPA
Previous Article
EBA Publishes Final Guidance on Supervision of Significant BranchesRelated Articles
APRA Reviews Repayment Deferral Plans, Identifies Best Practices
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs Assess Risks to Financial Sector After COVID-19 Outbreak
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE Confirms Withdrawal of COVID Corporate Financing Facility
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.
ECB Allows Temporary Relief in Leverage Ratio Amid COVID-19 Pandemic
ECB published a decision allowing the euro area banks under its direct supervision to exclude certain central bank exposures from the leverage ratio.
ESAs Launch Survey on Templates for Product Disclosures Under SFDR
ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).
ECB Proposes Integrated Reporting Framework to Reduce Burden for Banks
ECB published input of the European System of Central Banks (ESCB) into the EBA feasibility report on reducing the reporting burden for banks in EU.
EC Deems UK Framework for CCPs Temporarily Equivalent to EMIR Rules
EC adopted a decision determining, for a limited period of time, that the regulatory framework applicable to central counterparties, or CCPs, in the UK and Northern Ireland is equivalent to the requirements laid down in the European Market Infrastructure Regulation (EMIR or Regulation 648/2012).
EBA to Phase Out Guidelines on Loan Repayment Moratoria
EBA has decided to phase out the guidelines on legislative and non-legislative moratoria of loan repayments, in accordance with the earlier specified end of September deadline.
EBA Provides Opinion on Definition of Credit Institution in CRR
EBA published an Opinion addressed to EC to raise awareness about the opportunity to clarify certain issues related to the definition of credit institution in the upcoming review of the Capital Requirements Directive and Regulation (CRD and CRR).
ECB Finalizes Methodology to Assess CCR and A-CVA Risk of Banks
ECB finalized the guide on assessment methodology for the internal model method for calculating exposure to counterparty credit risk (CCR) and the advanced method for own funds requirements for credit valuation adjustment (A-CVA) risk.
