Insurance EuropeInsurance Europe
Position paper on collective redress published

Insurance Europe has published a position paper on collective redress, which says that, because many member states have either only just introduced or are considering introducing collective redress mechanisms, it is too early following the 2013 recommendations to take action at EU level.

In the paper, Insurance Europe reiterated its support for safeguards, such as the loser pays principle, opt-in and transparency of funding.

Insurance Europe also warned about the risks of blackmail settlements and returns on investment for third party litigation funders several times over the initial investment to the detriment of consumers that allege mass-harm.

Published 19 December 2017