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In Government of the French Community, and Walloon Government v Flemish Government Case C-212/06, ECJ (Grand Chamber), the European Court of Justice (ECJ) determined that Flemish legislation limiting eligibility to a care insurance scheme was contrary to European provisions concerning the right to freedom of movement within the European Community (EC) in so far as the care insurance scheme included a residence requirement that excluded persons who worked in the Flemish region or in the bilingual Brussels-Capital, but who resided in another part of the national territory (ie the French or German speaking region). 

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Read More European Court of Justice Considers the Validity of Flemish Legislation Limiting Eligibility to a Care Insurance Scheme

On 26 February 2008, the European Commission issued an amended proposal to the Solvency II Directive Proposal (COM (2007) 361) which was adopted on 10 July 2007. The July 2007 version of the Solvency II Directive Proposal represented a recast of 13 existing Directives in the insurance and reinsurance sector, together with new solvency provisions. …
Read More Commission Issues Amended Proposal to the Solvency II Proposal

As reported here – CEIOPS Meeting Discusses Draft Advice to European Commission on Key Solvency II Issues], the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has now released it’s Consultation Papers of Draft Advice on Aspects of the Framework Directive Proposal related to Proportionality and on Insurance Groups. …
Read More EU: CEIOPS Releases Two Solvency II Consultation Papers

A members’ meeting of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) recently discussed two important Solvency II project’s draft Advices to the European Commission. 

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Read More EU: CEIOPS Meeting Discusses Draft Advice to European Commission on Key Solvency II Issues

Charlie McCreevy, European Commissioner for Internal Market and Services, recently gave a speech at the Insurance Institute of London about the European Commission’s policy priorities for the insurance sector. Solvency II is currently the key project and will remain so until its transposition, which is intended to take place in 2012. 

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Read More EU: Solvency II and the European Commission’s Policy Priorities for the Insurance Sector

The  CEA, the representative organisation for European insurers and reinsurers has called for further impact analysis of Europe’s insurance regulation standard Solvency II. The CEA announced at the European Commission public hearing that the latest qualitative impact study (QIS4) on Solvency II needs to align more closely with the framework directive published in July 2007. 

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Read More UK/EU: Comité Européen des Assurances (CEA) Calls for Extra Scrutiny of Solvency II

The much awaited European Commission’s (EC) final report into business insurance was published in September 2007 (click here for a link to the December 20, 2007 blog entry on the EAPD workshop into the competition inquiry).  The report urged the market to review its practices and recent statements by EC officials (speaking in a personal capacity at a web-seminar) suggested that the subscription market had months rather than years to carry out reviews and amend its current practices to avoid enforcement action. 

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Read More EU/UK: European Commission: Competition in Business Insurance Inquiry: Responses Prepared by Insurance Bodies

On 7 January 2008 the European Commission made public a report it had commissioned on Insurance Guarantee Schemes (IGS) in the European Union. IGSs provide last-resort protection for policyholders in situations where insurers are unable to provide cover, usually due to their insolvency. They are commonly financed from levies on the insurance industry. …
Read More Report Published on Insurance Guarantee Schemes in the European Union