ORSA

19 Jul: Supervisory statement on the ORSA in the context of COVID-19

(Source: European Insurance and Occupational Pensions Authority (EIOPA))

The European Insurance and Occupational Pensions Authority (EIOPA) published today the supervisory statement on Own Risk and Solvency Assessment (ORSA) in the context of COVID-19 pandemic. With the aim to foster supervisory convergence, EIOPA in this supervisory statement focuses on the supervision of the internal processes of undertakings that are necessary for having a good quality ORSA in place.

Given that COVID-19 pandemic has already its impact on undertakings, EIOPA expects that most of them have captured such a scenario in their ORSA by now. For instance, some national supervisory authorities have also …