Insurance Europe provided the Commission with further explanation regarding the professional indemnity insurance market, in relation to the European Commission proposal for a Directive to amend the EU Directive on the recognition of professional qualifications.
Insurance Europe fully supports the European Commission’s aim to enhance the benefits of the EU and improve the internal market so that professionals can move and practice freely. However, Insurance Europe sees “proof of insurance” in this area as an obstacle – rather than an improvement – to freedom of movement. While some insurers may be able to extend their cover, insurers faced with the inability to do so will be unable to provide their professional insureds with the required “proof”. As a result, this requirement would block those professionals from working in another Member State, even if he or she has significant capital and/or other means to cover his or her potential liabilities (a measure that is currently permitted under Article 7 of Directive 2005/36/EC).
Considering the objective to enhance the free movement of professionals, Insurance Europe recommends not to introduce “proof of insurance” as a requirement for professionals seeking practice in other Member States, whether on a temporary or permanent basis. Insurance Europe welcomes the opportunity to address any questions the Commission may have as well as participate in any future dialogues between the Commission and the European Parliament on this matter.
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