Brussels, 30/09/2002 (Agence Europe) - On Monday, the Council adopted without discussion the Directive that will allow all insurance brokers meeting common standards to market their services across borders in the EU. The wording still has to be ratified by the Presidents of the European Parliament and the Council, and will come into force in 2004. The directive sets minimum requirements for individuals or companies carrying out insurance or reinsurance mediation: appropriate knowledge and ability; being of "good repute"; and professional indemnity insurance for at least EUR 1 million per claim and EUR 1.5 mil per year for all claims. Brokers who were already professionally active before September 2000 can be automatically included in registers if they can demonstrate that they meet the common requirements. In principle, the Directive will not apply to insurance brokers only occasionally providing information about insurance. The Directive attempts to provide tighter insurance protection, requiring insurance intermediaries to give customers clear explanations for the advice they give on which products to buy. In addition, Member States are encouraged to set up out-of-court dispute settlement procedures. Internal Market Commissioner Frits Bolkestein welcomed the Council's decision: "The Directive will make it easier for intermediaries to operate anywhere in the European Union they want to. At the same time, it will increase the choice of insurance products available to customers and help ensure they can trust the advice they are getting from intermediaries".