Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-11-13-Speech-2-388"
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"en.20011113.16.2-388"2
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".
Mr President, I feel that, as Mr Berenguer Fuster said, the Commission proposal fills a large gap in the internal insurance market which has been created by the huge development in insurance and reinsurance transactions recently, particularly relating to the insurance of specific interests
and here I refer to the major industrial and commercial risks, while the market for private individuals and other smaller risks has been left rather to its own devices, resulting in a sort of free-for-all. We know how sensitive insurance mediation is, and our directive concerns precisely the mediation aspect.
That is why we found the Commission’s proposal both balanced and interesting, although possibly a little overcomplicated, which is why we have endeavoured to streamline it with a series of amendments – I am, of course speaking on behalf of the Committee on Legal Affairs and the Internal Market, which has drafted its opinion – to make the sector which does not focus primarily on insurance rather more mobile and marketable. There are, in fact, many entities, such as travel and tour agencies, whose main activity is not insurance but which do sell risk and life insurance as part of their business. Such transactions clearly lie
outside and are not bound by the usual conventions of professionalism and honour, by the extremely stringent and far-reaching requirements, that is, which guarantee precisely that good faith and reliability and credibility that should be high priority in insurance."@en1
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