20/10/2005 (Agence Europe) - On the fringes of the Environment Council of 17 October (see Europe 8966 and 8691) the Council formally adopted the directive setting a legal framework for reinsurance and the preconditions for being allowed to access and work in reinsurance. It is taking the same harmonised approach as with direct insurance, with the mutual recognition of authorisation and control systems among Member States. It will be scrapping collateral by 2010, used by some Member States...