5. EIOPA shall develop draft regulatory technical standards to specify the contents of the contractual terms referred to in paragraph 1, taking into account the different business models of the entities referred to therein.
EIOPA shall submit those draft regulatory technical standards to the Commission by 29 July 2027.
Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1094/2010.