The Secretariat of Insurance Europe has submitted to EIOPA the Industry Preliminary Suggestions on QRT Simplifications in Line with the EC Reduction Objective.
In the submission, Insurance Europe has emphasised the following key points:
- This paper presents an initial set of suggestions for EIOPA’s consideration, developed within the constraints of a tight timeline. Further refinements will be explored in due course.
- The industry remains available to clarify or follow up on any queries or requests for further information.
- It is crucial to ensure that changes do not inadvertently lead to an increased regulatory burden.
- NSAs should be encouraged to align with EIOPA’s objective of burden reduction, avoiding unintended increases in compliance obligations.
In terms of next steps, the secretariat will continue to engage proactively with EIOPA on this topic.
Insurance Europe