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Insurance Europe aisbl - Rue Montoyer 51 B-1000 Brussels - Belgium
  • Response provided to EIOPA consultation on product intervention powers

    Insurance Europe has responded to a consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on product intervention powers under the Packaged Retail Investment and Insurance-based Investment Products (PRIIPs). The consultation will feed into the development of EIOPA’s final technical advice to the European Commission on this issue.
     
    Insurance Europe emphasised that EIOPA’s final technical advice must make clear that the legal powers conferred on EIOPA and the national supervisory authorities to intervene arises under the PRIIPs Regulation. It must also clarify that intervention powers are to only be used in exceptional instances. Insurance Europe also highlighted that certain criteria and factors proposed by EIOPA fall outside the scope of the PRIIPs Regulation, while others are irrelevant or unclear. 

    02 Mar 2015
    Conduct of business
  • Professor Karel Van Hulle announced as moderator for conference

    Professor Karel Van Hulle, the former head of the insurance & pensions unit at the European Commission Directorate-General for the Internal Market & Services (DG MARKT), now the Financial Stability, Financial Services and Capital Markets Union Directorate-General (DG FISMA), will be moderating Insurance Europe’s 7th annual conference in Luxembourg this year.
     
    Professor Van Hulle, who is also an academic member of the Insurance and Reinsurance Stakeholder Group of the European Insurance and Occupational Pensions Authority (EIOPA), has also chaired the conference for the last two years.
     
    For more information on the programme and to register to attend, click here. For updates on twitter, search hashtag #InsConf15.

    02 Mar 2015
  • ACA welcomes Insurance Europe conference

    ACA, the professional association of the Luxembourg insurance and reinsurance sector has expressed its pleasure at hosting this year’s Insurance Europe International Conference.

    “ACA has a rich history of providing events to the insurance sector, to increase the knowledge and skills required for the industry. We are both honoured and proud to host our fellow Insurance Europe members and delegates from around the world. We also welcome this opportunity to showcase Luxembourg and the history and culture it has to offer,” said ACA’s General Manager, Marc Hengen.

    “The International Insurance Conference is shaping up to be an interesting, pertinent and varied day, bringing together the industry, regulators, supervisors and commentators”

    ACA has 81 effective members as well as 30 associated members.

    25 Feb 2015
  • Removing barriers could increase uninsured driving

    Insurance Europe is concerned that a proposal by the European Parliament to remove some key procedures for the re-registration of motor vehicles could lead to more uninsured driving and undermine road safety in Europe.
     
    The proposals that the European Parliament Internal Market and Consumer Protection Committee (IMCO) will be voting on this week will give rise to the revival of trialogue discussions, that could ultimately lead to the removal of barriers that help combat uninsured driving in Europe.
     
    Insurance Europe believes that existing registration systems designed to combat uninsured driving should not be weakened, that failure to re-register a vehicle should be penalised and that vehicles pending appeal following refusal should not be allowed on public roads.

    23 Feb 2015
    General insurance
  • Register for the 7th International Insurance Conference

    Come and join around 400 senior insurance industry leaders for the 7th International Insurance Conference, being held in Luxembourg on 27 May 2015.

    The conference will focus on the globalisation of the insurance industry and will have industry leaders, international regulators and government representatives speaking. The day-long conference includes keynote speeches, panel discussions and breakout sessions. 
     
    You can get the latest news on the conference by following Insurance Europe on Twitter @insuranceeurope and #insconf15.
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    20 Feb 2015
  • Retail investor information should be tailored to the product

    Insurance Europe has responded to a discussion paper by the joint committee of the three European supervisory authorities on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs). The KIDs are designed to help retail investors to better understand and compare PRIIPs across the EU.

    Insurance Europe underlined that a KID should contain accurate, fair, clear and not misleading pre-contractual information that is relevant for that specific product. It explained that it is of utmost importance that the specific features of insurance-based investment products are taken into account appropriately when considering the presentation and content of the KIDs. Unlike other PRIIPs, insurance-based investment products provide for additional benefits and protection. Hence, KIDs for insurance-based investment products should contain information tailored to the features of such a product.
     
    Insurance Europe also raised concerns about the potential duplication of some pre-contractual information that will be provided to retail investors, as products can be subject to several pieces of EU legislation, such as Solvency II, the revised Insurance Mediation Directive (IMD 2) and the PRIIPs Regulation.
     
    The responses to this consultation will be considered by the European supervisory authorities when developing draft regulatory technical standards on the content and presentation of the KIDs for PRIIPs.
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    18 Feb 2015