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European Insurance and Occupational Pensions Authority

3074 - DORA096

Q&A

Question ID: 3074 - DORA096

Regulation Reference: (EU) 2022/2554 - Digital Operational Resilience Act (DORA)

Topic: Other DORA topics

Article: 2(1)((o))

Status: UnderReview

Date of submission: 12 Apr 2024

Question

Are ancillary insurance intermediaries that rely on “connected contract exemption” under Article 1(3) of Directive EU 2016/97 on insurance distribution (IDD) within the scope of Article 2(1)(o) DORA?

Background of the question

Article 2(1)(o) DORA sets out that “ancillary insurance intermediaries” are financial entities within the scope of the legislation. That said, when DORA defines the term “ancillary insurance intermediary” under Article 3(50) DORA it does so by reference to Article 2(1)(4) IDD, but it does not specify whether it captures all ancillary insurance intermediaries or only those within the scope of IDD and registered with national competent authorities in accordance with Article 3 IDD. Ancillary insurance intermediaries that rely on Article 1(3) IDD “connected contract exemption” are not within the scope of IDD and they are not registered with national competent authorities. It therefore seems appropriate that they should not be deemed “financial entities” within the meaning of DORA and should remain outside the scope of the legislation.