Commission working paper on Insurance guarantee schemes

04 October 2004

The lack of harmonisation in the European Union leads to absence of protection for a large number of insurance consumers, to confusion, gaps and overlaps with regard to the cover provided by the existing schemes. This situation may also have a negative impact on the level playing field for the European insurance undertakings.

Any harmonisation aimed at reducing these deep disparities 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.

The Commission therefore released this working paper for discussion to be included in a future proposal for a directive.

Document

© European Commission