Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-11-24-Speech-2-288-015"
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"en.20151124.19.2-288-015"2
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"This legislative resolution provides users of insurance products with strengthened consumer rights across the EU. A positive aspect of the report is the placing of an obligation on insurance companies to show systematically that they have taken consumers’ needs into account from the commencement of any insurances product’s development.
However, the proposed directive does not provide the requisite level of transparency on the insurance business as a whole: transparency rules are currently in place for investment funds and other investment products, and they should also extend to insurance investment products. Furthermore, insurance intermediaries will be able to continue receiving commissions without having to disclose them, which I find particularly disconcerting.
While it is recognised that the new rules strengthen consumer protection to some degree, particularly in comparison to the predecessor IMD I, the lack of transparency meant that I abstained on this resolution."@en1
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