Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-151-250"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-10-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20111013.19.4-151-250"2
lpv:hasSubsequent	lp_eu:2011-10-13-Speech-4-151-5002
lpv:speaker	lp:Juozas Imbrasas2
lpv:spokenAs	member; TRAN (2009-07-16--2012-01-18)3 member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3 member; EFD (2009-07-14--2014-06-30)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 unknown; Partija Tvarka ir teisingumas (2009-07-14--2014-06-30)3 member; Delegation for relations with the Korean Peninsula (2009-09-16--2012-02-14)3 member; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; REGI (2009-07-16--2012-01-18)3
lpv:translated text	"Insurance guarantee schemes (IGSs) are considered a valuable tool in reducing the risks facing policyholders in the event of the failure of an insurance company. A wide range of IGSs currently exist in the Member States, offering varying degrees of consumer protection across various product lines on the basis of various funding models, and the lack of harmonised IGSs at European level and the diverse regimes among Member States have therefore led to ineffective and uneven protection for insurance policyholders and have slowed down the functioning of the insurance market by distorting cross-border competition. Consumer trust in the functioning of the internal market in financial services can only be assured by a consistent level of consumer protection regardless of the origin of the service provider, primarily through the consistent application of sound prudential rules and effective supervision by the European Insurance and Occupational Pensions Authority (EIOPA) and, where appropriate, competent national authorities. The Commission is urged to come forward with proposals for a cross-border standardisation directive establishing a coherent and consistent cross-border framework for IGSs across Member States. The most important thing for us should be to protect consumers from losses in the event of the failure of insurance companies, and for this reason and the others mentioned above, I welcomed this document."@en1

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