EIOPA's Outsourcing Supervision Report

Follow-up Report to EIOPA's Peer Review on outsourcing

Introduction

The European Insurance and Occupational Pensions Authority (EIOPA) has released a follow-up report to its 2022 Peer Review on Outsourcing under the Solvency II framework. This report evaluates the implementation of 77 recommended actions by National Competent Authorities (NCAs) across the European Economic Area (EEA) to enhance the consistency and effectiveness of outsourced activities supervision.

Key Findings

The report highlights the progress made by NCAs in adopting the recommended actions. It underscores the importance of consistent supervision across the EEA to ensure that outsourcing does not compromise the stability and integrity of the insurance market. The report also identifies areas where further improvements are needed and provides guidance on best practices for outsourcing supervision.

Recommendations

EIOPA emphasizes the need for NCAs to continue their efforts in aligning their supervisory practices with the recommended actions. The report suggests that NCAs should focus on enhancing their risk assessment frameworks and improving their monitoring and reporting mechanisms to better manage outsourcing risks.

Conclusion

The follow-up report serves as a crucial tool for NCAs to benchmark their progress and identify areas for improvement. It reinforces EIOPA's commitment to ensuring a robust and consistent supervisory framework for outsourcing across the EEA.

Quelques pistes pour l'intégration opérationnelle dans votre dispositif :

- Évaluer et ajuster les cadres d'évaluation des risques pour les activités externalisées.

- Renforcer les mécanismes de surveillance et de reporting pour une meilleure gestion des risques d'externalisation.

- Aligner les pratiques de supervision avec les recommandations d'EIOPA pour assurer la cohérence à l'échelle de l'EEE.