Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-154-875"

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"en.20111013.19.4-154-875"2
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"Insurance guarantee schemes (IGSs) are considered a valuable instrument for reducing the risks faced by policyholders in the event of insurer bankruptcy. Parliament has repeatedly demonstrated its support for the idea of an EU approach. The proposals tabled by the European Commission in its White Paper on IGSs are important to the success of the Solvency II Directive. The issue of IGSs is complex because of the great variety of systems existing in the various Member States, and because of the interaction between IGSs and other issues currently under consideration in the EU; in particular, the introduction of the Solvency II Directive. I voted in favour because I believe it is crucial that the EU move towards more robust and rigorous supervision, and continuous evaluation of national IGSs’ capacities for response and reaction. Indeed, the bankruptcy of a major insurer in a given Member State affects all the others, so there is a need to create synergies between Member States and ensure the sharing of best practices in the approaches taken by the insurance guarantee schemes."@en1

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