Regulatory Alerts2019-11-22
Added · Updated
Commission Delegated Regulation (EU) 2019/1935 of 13 May 2019 amending Directive (EU) 2016/97 with regard to regulatory technical standards adapting the base euro amounts for professional indemnity insurance and for financial capacity of insurance and reinsurance intermediaries
The regulation amends Article 10 of Directive (EU) 2016/97 to update the minimum financial requirements for insurance and reinsurance intermediaries. It sets the minimum professional indemnity insurance coverage at 1,300,380 EUR per claim and 1,924,560 EUR in aggregate per year, and establishes the minimum financial capacity at 4% of annual premiums received, with a floor of 19,510 EUR. These requirements apply to all insurance and reinsurance intermediaries across the European Union. The regulation enters into force on the twentieth day following its publication and applies from 12 June 2020.
More like this from EIOPA
We email you every new EIOPA publication the day it's published.
Topics
Share