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The Revision of the Insurance Mediation Rules at EU Level and its Impact on Consumer Protection

Domaradzka, Alina (2012) The Revision of the Insurance Mediation Rules at EU Level and its Impact on Consumer Protection. EIPAScope, 2012 (2). pp. 19-24. ISSN 1025-6253

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    The European Commission has put forward a new proposal for a directive on insurance mediation which should provide for significant changes in practices of selling insurance products and guarantee enhanced level of consumer protection. This proposal accompanies other regulatory initiatives in the insurance sector, all of them pursuing three main objectives: firstly, a strengthened insurance supervision with convergent supervisory standards at EU level; secondly, a better risk management of insurance companies; and thirdly a greater protection of policyholders. All these initiatives contribute to the EU programme on consumer protection and herald a new approach to EU insurance regulation and supervision. However, while the new supervisory rules are a direct response to the financial crisis and shortcomings of crossborder cooperation between national supervisors, the plans for the revision of insurance mediation rules were conceived much earlier due to scandals with mis-selling of insurance products in the United States and some EU Member States. This article will focus entirely on the Commission’s initiative in the consumer mediation area and the aspects of insurance supervision and risk management will be dealt with in separate articles.

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    Item Type: Article
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > consumer protection policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Journals > European Institute of Public Administration (Maastricht) > EIPASCOPE
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 06 Sep 2013 15:09
    Number of Pages: 6
    Page Range: pp. 19-24
    Last Modified: 02 Oct 2013 14:07

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