On 15 November 2024, the European Insurance and Occupational Pensions Authority (EIOPA) published its Opinion on the impact of the increased size thresholds concerning the potential exclusion from the scope of Directive 2009/138/EC (Solvency II) resulting from the review of the Solvency II framework on insurance undertakings in the scope of Regulation 2022/2554/EU (DORA). Notwithstanding such an exclusion, these undertakings must comply with DORA from its date of entry into application on 17 January 2025. EIOPA considers that this temporary application of DORA would impose unnecessary costs and administrative burdens on these small entities during this transition period, and calls upon the European Commission to amend EU law accordingly. Additionally, EIOPA expects that National Competent Authorities (NCAs) should not prioritise DORA supervisory actions for such small insurance undertakings.
