Banking sector - monthly data

The PFSA presents on the website: Banking sector - ordinary data 03/2013

EIOPA publishes a Database of pension plans and products in EEA

EIOPA has developed a Database which is a unique resource providing a comprehensive snapshot of the European pensions’ landscape and, thus, helps to better understand pension systems in Europe.

The Database maps the variety of those non-public arrangements and investment vehicles which have an explicit objective of retirement provision (according to a national social and labour law or tax rules) irrespective whether they are of occupational or personal type. Therefore, both 1st pillar-bis pensions available in the Central and Eastern Europe (CEE) and plans/products which are defined in the legislation but not yet offered to the public (or have no members) are also included.  The pension plans managed by the State or public entities (1st pillar pensions) and “pure” annuities (i.e. products not linked to an accumulation phase) are excluded from the Database.

The Database has been prepared by EIOPA on a best effort basis, with contributions from national competent authorities. Adjustments and simplifications were applied both in defining characteristics of plans and products and in providing the information by the authorities. Therefore, the Database should not be interpreted as a fully complete, “official” list of all pension plans and products offered in the European Economic Area (EEA). Similarly, the definitions and classifications used have been established for the purpose of the Database and are not binding in any way. In addition, for some countries the information contained in the Database may not be entirely explicative of the national context.

The Database is a living project and is aimed to be updated, checked for completeness, consistency and methodological aspects on a regular basis.

The database files can be viewed on EIOPA website.

EIOPA launches public consultation on draft Guidelines on Complaints-Handling by Insurance Intermediaries

The European Insurance and Occupational Pensions Authority (EIOPA) has launched today a public consultation on Guidelines regarding complaints-handling by insurance intermediaries, such as insurance brokers. They follow up previous EIOPA Guidelines on complaints-handling by insurers and thereby aim to ensure a “complete circle of protection” for consumers.
The Guidelines cover similar issues to the Guidelines relating to insurers, setting down guidance on appropriate internal systems and control for complaints-handling, the provision of information and procedures for responding to complaints.
They are also addressed to national competent authorities (NCAs) who would comply with the Guidelines by incorporating them into their regulatory or supervisory framework in an appropriate manner. By setting down high-level principles regarding the arrangements under which insurance intermediaries handle complaints that they receive, the Guidelines would thereby establish a minimum level of supervisory convergence. This, in turn, would lead to benefits in terms of creating a level playing field for insurance intermediaries across the EU and ensuring fair treatment of complainants by insurance intermediaries.
A proportionate approach, which seeks to ensure that the benefits to consumers outweigh the costs to NCAs and intermediaries, remains at the forefront. EIOPA has paid particular attention to the very diverse nature and size of the insurance intermediation market in Europe.
As the Guidelines lay down high-level principles for competent authorities, they are supplemented by more detailed examples of best supervisory practices in a Report, which links directly to the provisions of the Guidelines.
The public consultation will end on 28 June 2013 at 12.00 hrs CET. Comments should be submitted via email to CP-13-006@eiopa.europa.eu.
Please note that contributions not provided in the template for comments, or sent to a different email address, or after the deadline will not be processed.
The Consultation Paper and the Template for comments can be viewed on EIOPA website.

Quarterly Bulletin. Insurance market 4/2012

The PFSA presents on the website the latest publication Quarterly Bulletin. Insurance market 4/2012