EC Insurance Law

A new framework for the insurance industry is being created in Europe - with it come fundamental changes affecting almost all aspects of insurance in the Community. The "second generation" of liberalization is now complete and proposals for stage three are well advanced. This will introduce the single licence system in both the life and non-life sectors. Insurers will be able to operate across the Community - both through local branches and by cross border sales - without being subject to many of the regulations which apply at present in other member states. Developments will also affect intermediaries, Lloyd's, reinsurance and US and Far Eastern insurers with European business. EC regulations also impact on accounts, policy wording, joint ventures, mergers and the extent to which insurers are allowed to cooperate in areas such as common tariffs and policy conditions and through insurance pools. "EC Insurance Law" provides an explanation of and guidance to the present status of the European Community Law and all current proposals in the insurance sector.
This includes detailed explanation of the limitations to harmonization and mutual recognition under the present regime and the scope of liberalization to come. The book includes a resume of all directives and proposals affecting the insurance industry as well as the text of the principal legislation - giving immediate access to key sources of reference. The book is designed to assist those within the insurance industry - and their professional advisers - in responding to the opportunities of the single market and dealing with compliance issues.