The European Supervisory Authorities’ Joint Board of Appeal, comprising the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority, issued a decision on the reimbursement of costs arising from NOVIS Insurance Company’s appeal against the European Insurance and Occupational Pensions Authority. Following its 30 July 2024 decision ordering the European Insurance and Occupational Pensions Authority to reimburse NOVIS’ appeal costs, the Board was asked to rule after the cost breakdown submitted by NOVIS was contested. In its 3 December 2025 decision, the Board confirmed its competence to decide on the allocation and taxation of costs, clarified that only costs that are objectively necessary and reasonable may be reimbursed, and determined the total amount of costs to be reimbursed by the European Insurance and Occupational Pensions Authority.
European Banking Authority 2026-01-05
European Banking Authority reports ESAs Joint Board of Appeal decision on cost reimbursement in NOVIS appeal against EIOPA
The European Supervisory Authorities’ Joint Board of Appeal confirmed its authority to decide on the reimbursement of costs for NOVIS Insurance Company's appeal against the European Insurance and Occupational Pensions Authority, ruling that only objectively necessary and reasonable costs will be reimbursed. The Board determined the total reimbursement amount in its decision on 3 December 2025.