Brussels, 31/05/2013 (Agence Europe) - The European Commission is to send Greece a reasoned opinion for failure to respect European insurance law and a similar letter to Poland over its legislation restricting the activity of electronic money institutions.
Athens is being given two months to properly apply the first and third EU directives on non-life insurance (73/239 and 92/49). The Commission says that the obligation that insurance companies in Greece notify the Greek insurance watchdog each year of their trade policy for car breakdown recovery contravenes EU rules.
Warsaw has not yet notified the Commission about all the measures taken to transpose into Polish law EU Directive 2009/110 amending the EU rules on the taking up, pursuit and supervision of electronic money institutions, which came into force on 30 April 2011. The Commission is sending Poland this second warning letter (the first was sent in April 2012) because Poland has only notified partial measures. (MB/transl.fl)