20 September 2000

Commission Proposal on Insurance Mediation Directive

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This proposal establishes a legislative framework designed to ensure a high level of professionalism and competence among insurance intermediaries. A single registration system for intermediaries will facilitate cross-border activities by way of freedom of establishment and to provide services. The aim of the proposal is to guarantee that all natural and legal persons taking up and pursuing the activity of insurance or reinsurance mediation have been registered on the basis of a minimum set of professional requirements. Registered intermediaries will be able to operate in other member state. Member states may add to the professional requirements laid down in the directive, but only for the intermediaries that they register. The proposal also sets minimum requirements for the information that the insurance intermediaries must make available to their potential customers.
See also the press release for a short summary.

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