Insurance Europe supports the European Insurance and Occupational Pensions Authority (EIOPA)’s draft AI Opinion for providing clarity on applying existing insurance legislation to AI systems; however, it warns that the current draft may unintentionally introduce new requirements, lack proportionality, and create confusion due to overlapping regulations.
While Insurance Europe agrees with the Opinion’s overall objective, it has raised concerns regarding its scope, proportionality, and legal coherence.
Although the Opinion does not intend to impose new requirements, Insurance Europe warns that the language used could lead supervisory expectations to be interpreted as binding obligations on insurers.
It also calls for stronger proportionality considerations, particularly given the European Commission’s broader focus on simplification and reducing the burden on small and medium-sized companies.
Additionally, Insurance Europe urges EIOPA to acknowledge differences between internal and customer-facing applications, between AI deployers and providers, and between machine learning and generative AI systems.
It further highlights the risk of dual supervision in some countries, where separate authorities may be responsible for monitoring compliance with the AI Act versus sector-specific regulations. The Opinion should recognise this and clarify how such overlaps will be managed.
Insurance Europe reiterates that the Opinion’s focus should remain on clarifying how existing EU insurance regulations—such as Solvency II, the Insurance Distribution Directive, the General Data Protection Regulation, and the Digital Operational Resilience Act—already ensure appropriate governance, risk management, and consumer protection.
