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Image header Agence Europe
Europe Daily Bulletin No. 9678
Contents Publication in full By article 17 / 47
GENERAL NEWS / (eu) eu/insurance

No short-term revision of European rules on insurance intermediation

Brussels, 09/06/2008 (Agence Europe) - "It seems a bit early to initiate the process of modification on a directive which was implemented only recently in most of the member states", said Charlie McCreevy in a speech at the end of May in Dublin before the Irish Insurance Federation, in reference to directive 2002/92/EC on insurance intermediation. The European commissioner for the internal market will ask his services to launch a study on problems related to this legislative act. These problems concern, amongst other things, possible conflicts of interest and a lack of transparency in the way in which insurance intermediaries are paid. "The market is increasingly aware that such potential conflicts of interest can be dealt with more effectively", said Mr McCreevy. To be examined particularly closely are relations between the insurance intermediaries and the managers of funds in which unit-linked life insurance policy premiums are invested. (M.B./transl. fl)

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