Regulatory Alerts2020-07-10
Added · Updated
EIOPA issues a statement on supervisory expectations on Product Oversight and Governance requirements in the context of COVID-19
The European Insurance and Occupational Pensions Authority (EIOPA) issued a statement clarifying supervisory expectations for insurance manufacturers regarding Product Oversight and Governance requirements during the COVID-19 pandemic. The authority mandates that manufacturers identify products affected by the crisis, assess potential unfair treatment of customers, and consider proportionate remedial measures. This guidance serves as a follow-up to EIOPA's previous statement from April 2020 aimed at mitigating the pandemic's impact on consumers.