Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-285-000"
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"en.20111012.20.3-285-000"2
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"Madam President, the variability of insurance guarantee schemes in the EU arises from the specific characteristics of Member State national markets. This diversity, however, brings considerable uncertainty for consumers, particularly in cross-border cases where it is not clearly established which rules will be applied. An insurance guarantee scheme at European level must ensure more effective protection of all insured parties in the EU, and should therefore also include a specification of adequate compensation procedures for consumers suffering losses as a result of the failure of financial institutions.
The draft directive on insurance guarantee schemes should improve the existing deposit protection scheme, and thus help to create more homogenous conditions on the internal market in insurance. It remains a clear priority, in my opinion, to ensure equal protection for consumers regardless of the home country of the insurer, and to raise consumer awareness of the risks associated with financial service provision."@en1
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