The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the coming year, with the goals of ensuring consumer protection and safeguarding financial stability.
Activities take into account the ongoing effects of COVID-19, the market situation and political priorities, in particular supporting the digital and green recovery.
The EIOPA will pursue six strategic areas, including the integration of sustainable finance considerations across all areas of work, including promotion of sustainability disclosures and a sustainable conduct of business framework and addressing protection gaps.
It will also look to support the market and supervisory community through digital transformation, including the preparation of Regulatory and Implementing Technical Standards from the digital operational resilience act (DORA), and its implementation of the cyber underwriting strategy.
Additionally, the Authority will aim to enhance the quality and effectiveness of supervision, including the provision of training on Solvency II to national authorities in cooperation with DG REFORM, the definition of Union-wide strategic priorities.
Further objectives will see the EIOPA ensure technically sound prudential and conduct of business policy, including follow-up to the Solvency II review and the provision of technical advice on the scheduled review of the IORP II Directive.
For 2022, it will also continue to identify, assess, monitor and report on risks to the financial stability and conduct of business and promote preventative policies and mitigating actions, including the provision of timely and accurate financial stability analyses and risk assessments.
And finally, the EIOPA will seek to provide effective recruitment, management and development of EIOPA’s human capital.
