Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-153-000"
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"en.20111013.19.4-153-000"2
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"Insurance guarantee schemes (IGS) are considered a valuable tool for reducing the risks facing policyholders in the event of the insolvency of an insurance company. The European Parliament has repeatedly demonstrated its support for consideration of an EU-level approach.
The issue is complex on account of the wide variation in existing schemes across EU Member States and the interaction between IGS and other issues currently under consideration at EU level, most prominently, the imminent introduction of Solvency II.
Our objectives are: consumer protection in the event of the bankruptcy of an insurer; consumer protection regardless of the ‘home’ state of the insurer; consumer protection in the event of fraud or mis-selling; and taxpayer protection in the event of IGS failure. We believe that these four policy goals can be adequately met only by a minimum harmonisation directive that ensures the same level of consumer protection regardless of the location of the insurer writing the policy, and limits the exposure of taxpayers for claims made by policyholders in the markets."@en1
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