CEIOPS on enlargement and passporting and transitional arrangements

28 April 2004

The Committee of Insurance and Occupational Pensions Supervisors (CEIOPS) has been considering the supervisory issues surrounding the integration of the new Member States into the European Single Market. CEIOPS has addressed questions concerning 'passport' rights under the Insurance Directives, in addition to the transitional provisions regarding the transfer of supervisory responsibility for existing branches. Insurers clearly have a direct interest in these arrangements, but they are also relevant to consumers who wish to be reassured that the insurers operating in their markets are well supervised and financially sound.

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