Insurance Europe has responded to a European Commission consultation on a proposed EU services passport for the single market.
While Insurance Europe emphasized its support for the facilitation of insurance for cross-border services, it questioned the ability of a services passport to ensure a service provider is able to satisfy cross-border insurance obligations.
Insurance Europe stressed that different insurance needs between member states often stem from national liability legislation, national requirements for professionals and local costs that influence damage claim amounts. It said it is unlikely that the passport would enable a service provider to bypass these differences.
Specifically, based on the European Commission’s consultation document, Insurance Europe warned that it remains unclear how an EU services passport would facilitate the provision of insurance for cross-border services providers, and what role insurers would play with respect to the development and delivery of the services passport.
Insurance Europe recommended that the provision of, and better access to, information regarding professional requirements in other member states is the best way to support service providers wishing to offer their services cross-border.