Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-147-000"
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"en.20111013.19.4-147-000"2
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"I voted in favour of the report on insurance guarantee schemes (IGSs), which are fundamental consumer protection tools for reducing the risks for policyholders in the event of the insolvency of an insurance company.
However, this is a very complex sector, both in terms of the application of the considerable variety of insurance schemes that exist in the Member States, and in terms of the implications deriving from the future introduction of the Solvency II Directive. Under the directive, a ‘ladder’ of supervisory intervention exists before an insurance company can go bankrupt.
In this regard, I support the position of the rapporteur, who identifies four main policy areas for consumer protection, regardless of country of origin, in the event of bankruptcy, fraud or mis-selling, and for taxpayer protection in the event of insurance guarantee scheme failure. These are areas in which an EU dimension to IGSs is necessary, through a harmonisation directive based on the same level of consumer protection regardless of the location of the insurer."@en1
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