Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-154-984"
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"en.20111013.19.4-154-984"2
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"Insurance guarantee schemes (IGSs) are important instruments for reducing the risks faced by insurance policyholders and beneficiaries in cases of bankruptcy of a regulatory body, so contributing to strengthened consumer protection. I am voting for this report, as I consider harmonisation of IGSs crucial so as to establish a uniform and consistent cross-border framework for the systems of all the Member States. I would argue that ‘home’ and ‘host’ supervisors should cooperate fully with the national IGSs, and that the European Insurance and Occupational Pensions Authority should develop an integrated, simple approach, based on international best practices. I consider it important that tests be carried out on the IGSs of the various European countries, which will help to detect any potential problems at national level. Small and concentrated markets that find it hard to obtain adequate funding for the activities of an IGS, which could give rise to dangerous systemic risks, should be taken into account. Finally, I would argue that all information should be easily available to consumers, so that they are fully aware of the various forms of protection from potential insurer insolvency, and of how the continuity of insurance contracts is ensured in situations of portfolio transfer."@en1
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