Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-09-03-Speech-2-201"
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"en.20020903.8.2-201"2
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".
As the honourable Member is aware, the principle of contract freedom applies to companies offering financial services. In the field of insurance, the Third Non-life Insurance Directive put an end to the system of prior or systematic government approval of tariffs and pricing policy. Compulsory no-claims bonus systems violate the principle enshrined in the directives. I believe that free trade in insurance products is in the interests of the vast majority of motorists, as this allows them to choose insurance companies that reward good drivers with lower premiums.
Turning to the question raised by the honourable Member in connection with the possible increase in the number of uninsured vehicles, I should like to draw your attention to Article 3, Paragraph 1 of the First Motor Insurance Directive. That article states that all motor vehicles in the Community are required to have statutory liability insurance. It is up to the national authorities to ensure that this obligation is respected. The Commission's recent proposal for a Fifth Motor Insurance Directive, to which the honourable Member refers, does not alter this provision. This new proposal, the Fifth Directive, does not infringe the fundamental principle of tariff freedom. Its main purpose is to revise the four existing directives on motor insurance. The main objectives are to update and improve the framework of compulsory insurance to protect the victims of car accidents, to plug gaps and to clarify some of the provisions in the directives.
The Commission is doing everything it can to improve the efficiency of the internal market for insurance. Its plans are set out in the Plan of Action for Financial Services. The Commission is convinced that greater competition will lead to lower prices and a wider choice of products for the consumer."@en1
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