One of the main goals of EIOPA is to ensure high, effective and consistent level of supervision across Europe, with the aim of guaranteeing a similar level of protection of policyholders and beneficiaries across jurisdictions, preventing supervisory arbitrage and guaranteeing a level playing field.
EIOPA defines its priorities annually to strengthen supervision in Europe in the Supervisory Convergence Plan.
The priority areas included in the plan are identified following a risk-based approach and based on the following criteria:
- Areas with relevant impact on policyholders and financial stability;
- Areas that can affect fairness, the level playing field or the proper functioning of the internal market through the existence of possible supervisory arbitrage;
- Key areas of supervision where practices substantially differ.
To achieve its priorities in the area of supervisory convergence, EIOPA developed different tools.
Every year, EIOPA publishes a Report on supervisory activities describing the most important deliverables achieved. The annual report also includes a review of the priorities in the field of supervisory convergence, as they need to take stock of emerging and future challenges.
Go to the corporate documents to see all supervisory plans and reports