On 19 February 2021, the European Insurance and Occupational Pensions Authority (EIOPA) published a press release on its Union-wide strategic supervisory priorities for 2021. EIOPA states that it identified business model sustainability and adequate product design as two Union-wide strategic supervisory priorities relevant for national competent authorities (NCAs). According to EIOPA, specifically in connection with COVID-19, NCAs will:

Focus their supervisory activities on monitoring the impact of the prolonged low-yield environment as well as of the COVID-19 crisis on the business model sustainability and development of insurers and institutions for occupational retirement provision (IORPs).

Monitor the impact of the COVID-19 crisis on products and will ensure that product and oversight governance (POG) requirements and other relevant consumer protection and conduct of business related requirements are adequately implemented to address the deficiencies which emerged in the crisis.