Strasbourg, 19/11/2001 (Agence Europe) - On Wednesday, the European Parliament approved the proposal of directive establishing a legislative framework on insurance intermediation, in order to guarantee a high level of professionalism and competence and to facilitate the border exercise of these activities, mainly through a single registration system. The sector is important from an economic point of view since, in some Member States, the share of the market held by intermediaries in the distribution of insurance exceeds 50%. The EP expressed itself at first reading, voting on the report by Spanish Socialist Luis Berenguer Fuster. The directive fixes the minimum professional requirements allowing States freedom to add additional requirements to this directive, but only for intermediaries that they themselves register. One of the amendments adopted by the Parliament specifies that the directive does not cover the insurance activities carried out by individuals or organisations whose main business is not insurance (examples: travel agencies, car dealers). Minimum conditions are established also for the content and the modalities of information that insurance intermediaries must provide to their potential clients (except when there are industrial and commercial risks). The Parliament would like such clarifications to include: the possibility for the client to choose the language in which he receives the information, communication of the information before the contract is concluded, and a guarantee that the provisions allowing for complaints to be fired comply with certain criteria. Finally, as far as the scope of the directive is concerned, the Parliament hopes that it will also be extended to insurance-banking groups (financial conglomerates carrying out activities in the two fields).