CEIOPS issued a consultation paper on the General Protocol relating to the collaboration of the insurance supervisory authorities in the EU.
The Protocol applies to the authorities of the Member States of the EU competent for the supervision of insurance and reinsurance undertakings, in respect of the application of the Insurance Directives, namely (see Annex I lit. a):
- First Non-Life Directive
- Second Non-Life Directive
- Third Non-Life Directive
- Consolidated Life Directive
- Reinsurance Directive
- Reorganisation/Winding-up Directive
- 4th Motor Insurance Directive
- Insurance Directives
As stated in their principles, the paper states that Competent Authorities agree that their collaboration may extend to areas not covered by the Insurance Directives. In these situations the Competent Authorities shall be guided by the principles of the Directives.
In the case of divergent views, the relevant Competent Authorities shall strive to agree on a viable solution; in cases where no such solution can be reached, recourse may be made to the CEIOPS Mediation Mechanism.
Deadline for comments is 5 February 2008
General Protocol
© Graham Bishop
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