Commission working paper on insurance guarantee schemes

11 October 2004




The Commission has published a working paper on insurance guarantee schemes focusing on some of the core elements of any future harmonisation, which include:
  • the obligation to create a scheme,
  • the home Member State principle,
  • the tasks which should be carried by the scheme
  • and the claims to be covered.

    The paper also includes very first drafts of possible legal provisions in order to facilitate the discussion.

    On the obligation to create a scheme any harmonisation should start with the Member States’ obligation to set up or officially recognize one or more insurance guarantee schemes within their territories and provide for mutual recognition of the corresponding schemes in other Member States.

    A European system on insurance guarantee schemes should be based on the Home Member State Principle. The guarantee scheme of the home Member State should cover all the operations carried out by the insurance undertaking either by means of establishment (branches) or on free provision of services.

    Working paper

    © European Commission