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The group will examine whether differences in insurance contract law pose obstacles to cross-border trade in insurance products. The panel will comprise representatives of stakeholders, including the insurance industry, the main users of insurance products, and practitioners with experience in drafting insurance contracts. If it finds that differences may pose obstacles to cross-border trade, the group has been asked to identify the insurance areas which are likely to be most affected.
On 1 July 2010, the European Commission launched a consultation on 'Policy options for progress towards a European contract law for consumers and businesses'. A number of stakeholders from the insurance sector, in particular representatives of insurance undertakings and insurance intermediaries, stated that differences in contract law posed obstacles to cross-border trade in insurance products.
A report on the group's findings is due by the end of 2013.