Recital 1

(1)The European Insurance and Occupational Pensions Authority (EIOPA) is required to regularly review the base amounts for professional indemnity insurance and financial capacity of insurance, reinsurance and ancillary insurance intermediaries to take into account the changes to the European index of consumer prices as published by Eurostat. From 1 January 2018 to 31 December 2022, the European index of consumer prices produced for the Union by Eurostat has increased by 20,32 %. It is therefore necessary to adapt the base amounts in euro for professional indemnity insurance and financial capacity of insurance, reinsurance and ancillary insurance intermediaries by that percentage increase.