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Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)
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General comments:
This section relates to annual submission of information for individual undertakings.
Template shall be filled in relation to non–life business (including Non–SLT Health) only for direct business.
In this template the 20 biggest single underwriting risks, based on net retention, across all lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, shall be reported. If the 2 biggest single underwriting risks for any of the lines of business, as defined in Annex I to Delegated Regulation (EU) 2015/35 are not covered through the above methodology, then they shall be reported in addition. In case a single underwriting risk of a specific line of business forms part of the top 20, the same risk of the affected line of business must only be filled in once.
Net retention of the single underwriting risk means the maximum possible liability of the undertaking after the recoverables from reinsurers (including SPV and Finite Reinsurance) and the original deductible of the policyholder has been taken into account. In case the net retention is equal for too many risks the policy with the highest Sum insured shall be used as a second criteria. In case the Sum insured is also the same and the most appropriate risk considering the risk profile of the undertaking must be used as the ultimate criteria.
ITEM | INSTRUCTIONS | |
---|---|---|
C0010 | Risk identification code | The code is a unique identifying number assigned by the undertaking that identifies the risk and shall remain unchanged for subsequent annual reports. |
C0020 | Identification of the company/person to which the risk relates | If the risk relates to a company identify the name of the company to whom the risk relates. If the risk relates to a natural person, pseudonymise the original policy number and report pseudonymised information. Pseudonymous data refer to data that cannot be attributed to a specific individual without the use of additional information, as long as such additional information is kept separately. Consistency over time shall be insured. It implies that if a single underwriting risk appears from one year to another, it shall receive the same pseudonymised format. |
C0030 | Description risk | The description of the risk. Depending on the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, report the type of company, building or occupation of the specific risk insured. |
C0040 | Line of business | Identification of the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35. The following closed list shall be used:
|
C0050 | Description risk category covered | The description of the risk category covered is entity specific and is not mandatory. Also the term ‘risk category’ isn't based on Level 1 and 2 terminologies but can be considered as an extra possibility the give additional information about the underwriting risk(s). |
C0060 | Validity period (start date) | Identify the ISO 8601 (yyyy–mm–dd) code of the date of commencement of the specific cover, i.e., date when the cover took effect. |
C0070 | Validity period (expiry date) | Identify the ISO 8601 (yyyy–mm–dd) code of the final expiry date of the specific cover. |
C0080 | Currency | Identify the ISO 4217 alphabetic code of the reporting currency. |
C0090 | Sum insured | The highest amount that the insurer can be obliged to pay out under the policy. The insured sum relates to the underwriting risk. Where the policy covers a number of exposures/risks across the country the individual underwriting risk with the highest net retention shall be specified. If the risk has been accepted on a co–insurance basis, the insured sum indicates the maximum liability of the reporting non–life insurer. In case of a joint several liability, the part belonging to a defaulting co–insurer must be included as well. |
C0100 | Original deductible policyholder | Part of the sum insured which is retained by the policyholder. |
C0110 | Type of underwriting model | Type of underwriting model which is used to estimate the exposure of the underwriting risk and the need for reinsurance protection. One of the options in the following closed list shall be used:
Although abovementioned definitions are used for the line of business, as defined in Annex I to Delegated Regulation (EU) 2015/35, ‘Fire and other damage to property insurance’, similar definitions might be in place for other lines of business. |
C0120 | Amount underwriting model | Maximum loss amount of the single underwriting risk which is the result of the underwriting model applied. In case no specific type of underwriting model is used the amount must be equal to the sum insured reported in C0090 minus the original deductible reported in C0100. |
C0130 | Sum reinsured on a facultative basis, with all reinsurers | Part of the sum insured that the insurer has reinsured on a facultative basis (by treaty and/or by individual cover) with the reinsurers. When the facultative cover is not placed for 100 % but only for 80 % the 20 % not placed shall be considered as retention. |
C0140 | Sum reinsured, other than on facultative basis, with all reinsurers | Part of the sum insured that the insurer has reinsured through traditional reinsurance treaties or another basis (including SPV and Finite Reinsurance) other than facultative reinsurance. |
C0150 | Net retention of the insurer | The net amount for which the insurer acts as risk carrier, i.e.: part of the sum insured that exceeds the original deductible of the policyholder and is not reinsured. |
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