Brussels, 10/06/2005 (Agence Europe) - Of Tuesday, the European Parliament approved the proposed directive establishing the first ever European legal framework for the reinsurance sector, which will get rid of collateral 12 months after the transposition deadline, which has been set for two years after its entry into force. Collateral, or security is used in two Member States, including France, to guarantee the insurer's claims on the reinsurer. Getting rid of the system will allow the EU to...