Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-286-000"

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"Madam President, I would like to congratulate Mr Skinner and his substitute, Mr Sánchez Presedo, as well as the Committee on Economic and Monetary Affairs, for the report on insurance guarantee schemes. This report marks an important step towards a European approach to overcome the fragmented landscape within a minimum harmonisation framework. As to the timeline, the Commission plans to approve a proposal for a directive by the end of 2012. I trust that we all agree on a number of points made in the report, such as the home state principle and the importance of providing consumers with easy and appropriate information, for instance, through a single point of contact. However, there are a few important issues on which the White Paper tabled last year presented arguments for a preliminary position of the Commission that I must recall is not exactly that of the report presented today. On coverage, our position in the White Paper was that the insurance guarantee scheme should cover both life and non-life insurance policies. On the level of funding, the White Paper stated that it needs to be set at an appropriate target level with a suitable transition period in an EU directive. Should funding be ex-ante or ex-post? In the White Paper, our position was that insurance guarantee schemes established at national level should be all financed, at least to a certain extent, by ex-ante contributions from insurance undertakings. The Commission, however, did not exclude that, in the case of a lack of resources, ex-ante funds could possibly be complemented by ex-post funding arrangements. Honourable Members, this report from Mr Skinner comes at an important time when we are preparing for a European regime for insurance guarantee schemes. We believe that it will not be too difficult in the future to find a very good common ground acceptable for both the European Parliament and the Commission. We are encouraged by the commitment shown by you in Parliament, and your report reinforces this basis for our joint work ahead."@en1
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