Single Programming Document 2019-2021 with Annual Work Programme 2019
This Single Programming Document covers the period 2019 to 2021 and describes EIOPA during this timeframe. Throughout this period, EIOPA's overarching mission remains the protection of policyholders and beneficiaries and financial stability. To achieve this, EIOPA will continue to work to deliver high-quality regulation, technical advice and analysis at European level, and support to national competent authorities (NCAs) to strengthen supervision in Europe.
EIOPA will also continue to support the European Commission's agenda to build a strong and trusted financial system. In the coming years, EIOPA's key priority is to further enhance supervisory convergence with the aim of moving towards a common supervisory culture.
As part of its supervisory convergence agenda, EIOPA will focus on building common standards and interpretations, on leveraging data for risk assessment and supervisory purposes, on monitoring common standards and on challenging and supporting NCAs. In light of their growing importance, the Authority has added 'InsurTech' and sustainable finance to its ongoing priorities. These two cross-cutting themes will draw on expertise from across the organisation.
In Brief: Single Programming Document 2019 -2021
Single Programming Document 2019-2021 including Annual Work Programme 2019
Single Programming Document 2020-2022
Conclusion of negotiations on the legislative proposals for ESAs review and PEPP have provided a steer from the co-legislators as to where EIOPA's mandate needs to be strengthened. In 2020, a major priority will accordingly be to advancing our work on digitalisation and sustainable finance, and contribute to consistent and high-quality supervision as well as the protection of consumers.
- Digitalisation and cyber: EIOPA will focus on the impact of new technology enabled business models and the use of new technologies for supervisory purposes. We will investigate the potential build-up of risks from cyber underwriting strategies and assess the need for alignment of requirements on cybersecurity and IT governance. We will contribute to a common Union financial data strategy and the establishment of a common European approach towards technological innovation. We will also promote the exchange of information on cyber security and cyber-attacks
- Furthering the sustainable finance agenda: EIOPA has a sustainable finance action plan and has already developed significant interventions in this area. We will further this work and contribute to ensure the reflection of ESG factors in relevant regulation as well as in our assessments of risk.
- Leading convergence towards high-quality prudential supervision throughout the EU: Enhancing the common supervisory culture, new tasks will include the development of Union-wide strategic supervisory priorities and, at the request of NCAs, technical advice on the application of Internal Models. EIOPA will further develop cross-border cooperation platforms to enhance the effectiveness of the cooperation between Home and Host supervisors with regard to cross-border business.
- Driving forward conduct of business regulation and supervision: EIOPA will enhance the information available to supervisors on consumer trends and retail risk indicators; conduct thematic reviews into areas requiring greater attention from the supervisory community. In addition, we will have a new role in coordinating mystery-shopping activities of NCAs.
- We will also deliver regulatory tasks in relation to the Pan European Pension Product and prepare to assume our role in registering PEPPs and overseeing their supervision.
- Strengthening the financial stability of the insurance and occupational pensions sectors: EIOPA will develop common methodologies for identifying financial institutions to be included in Union-wide assessments and for assessing the effect of environmental risks on the financial stability of those financial institutions. EIOPA will also be able to recommend stress tests related on-site inspections.
- Delivering EIOPA's mandate effectively and efficiently: Maintaining our commitment to ensure transparency and accountability, EIOPA will continue to undertake initiatives to make regulation for both insurance and pensions sectors available on our website in a user-friendly format.
EIOPA's SPD 2020-2022 is the result of careful planning and prioritisation. Certain factors, such as new priorities from the co-legislators and uncertainties stemming from the United Kingdom's decision to leave the EU may necessitate changes. We stand ready to adjust our activities accordingly.
Single Programming Document 2020-2022 including Annual Work Programme 2020
Previous Multi-Annual and Annual Work Programmes