On Dec. 4, HUN CB issued insurer data provision obligations decree.
HUN CB published Decree 57/2024. (XII. 3) on information system data provision obligations for insurance market organizations to enable CB to fulfill supervisory tasks.
Follows HUN CB Dec. 2024, issued data submission obligation decree, see #235965.
Summary
Applies to Hungarian branch of insurers registered office in other EU member states or EEA, independent insurance intermediaries/brokers, Hungarian Insurers Association.
Plus those performing tasks of compensation fund/compensation account and national office (MABISZ separate organisational unit), all collectively known as data providers.
They must submit regular & ad hoc data/supervisory reports to HUN CB as per decree.
Basis for the reports is the general ledger/other records under accounting regulations; this data stored in accounting, registration and IT systems must be saved for 5 years.
Effectiveness
Section 16 and annexes 17 to 20 will enter into force on Apr. 1, 2025.
The remainder of the decree will enter into force on Jan. 1, 2025.
