Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-154-988"
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"en.20111013.19.4-154-988"2
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"I voted for the report on insurance guarantee schemes because European consumers need to be protected in the event of insurer default. In order to ensure a high level of consumer protection in the event of insurer default, a European framework must be set up to allow a choice between receiving financial compensation for the investment made in the insurance policy and continuing the insurance contracts by portfolio transfer. I should emphasise how important it is to increase consumers’ knowledge and awareness of financial services and the associated risks. A mechanism needs to be introduced for insurance policies to include clear warnings about the risks associated with them and the options which consumers have in these cases. We call on the Commission to take measures aimed at setting up a common, coherent and consistent insurance guarantee framework to provide total, permanent protection for insurance policyholders throughout the EU. Furthermore, in the case of insurance policies too, consumer protection authorities must endorse the framework contracts offered by insurers, so that consumers are protected and informed about their rights and obligations and can have some negotiating power when taking out an insurance policy."@en1
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