General Insurance Article - DPM & XBRL taxonomy design update published by EIOPA

 EIOPA has today released an update on the Data Point Model (DPM) and XBRL taxonomy design. Indications about those parts that have been updated are provided in the “Release Notes” and “The Taxonomy Framework Architecture Documentation”.

 In addition, EIOPA publishes a “Test Instance Release Package”. It contains a set of test cases allowing to conduct a practical check of different elements of the XBRL Taxonomy.

 EIOPA strongly recommends undertakings and software vendors to base their work only on the most recent version of the Data Point Model and XBRL taxonomy. The previous versions published by EIOPA are considered as outdated.

 Further major releases of the Preparatory Solvency II DPM and XBRL Taxonomy are not foreseen, unless outstanding issues are detected. Hotfixes will be released to solve potential minor issues.

 Harmonised EU-wide reporting formats are crucial to ensure a consistent implementation of European regulatory and supervisory frameworks to support EIOPA’s goal to improve the consistency and efficiency and consistency of the supervision of financial institutions practices across Europe.

 Principles, rules and design approaches used in the current publication are still under consideration and subject to further changes.

 The documentation is available here