Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-280-000"
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"en.20111012.20.3-280-000"2
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"Madam President, please pass on my thanks to the rapporteur for his work. I know that Mr Skinner would like to see a coherent cross-border framework for consumer protection insurance, and I thank him for balancing this with much Member State discretion and respecting subsidiarity. However, I will not vote for his report.
The cost of insurance is rising in many countries and in many sectors. Insurers today face low returns on asset portfolios and increased solvency requirements, but with higher claim rates and more exposure to fraud, while in some sectors, costs are added by the gold-plating of claims packages. All these costs were added even before Commissioner Reding drove headlong into the women drivers debate. We do risk insurance becoming simply unaffordable, especially for those on lower incomes, and too often the Commission will bring forward legislation that adds costs but has little real benefit.
I want to wait and see what the Commission’s proposals are in this area before making a judgment. Fundamentally, what is the benefit of offering additional consumer protection for insurance products if we leave behind a raft of consumers who cannot afford to buy insurance products in the first place?"@en1
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