EIOPA releases its Opinion on the scope of DORA in light of the review of the Solvency II framework

The European Insurance and Occupational Pensions Authority (EIOPA) published today its Opinion on the impact of the increased size thresholds regarding exclusion from scope of Solvency II as part of the Solvency II Review on insurance undertakings in the scope of the Digital Operational Resilience Act (DORA). In its Opinion EIOPA is calling on the European Commission to take the necessary actions to avoid disproportionate compliance efforts from small insurance undertakings in the transition period prior to the application of the revised Solvency II Directive.