The FSA and Treasury are looking to obtain industry views on proposals to reduce the administrative burden on insurance companies operating in the European Union .
The aim of the plans, including the creation of ‘colleges of supervisers’, is to encourage more effective group supervision across EU insurers and reinsurers in a bid to give consumers better value.
They represent Britain’s contribution to the growth of prudential regulation of the EU insurance sector through the Solvency II process. The government also says they are an example of its attempt to proceed in its proportionate and risk-based approach to EU financial services rules.
A proposal put forward by the Chancellor of the Exchequer for the creation of colleges of supervisors is a key focus of the Discussion Paper.
Under these proposal, EU regulators would work more closely through supervisory colleges and improve the effectiveness and efficiency of their supervision of cross-border insurance and reinsurance groups.
EU insurance views sought by the FSA and Treasury
Financial Services > Income lnsurance > News
EU insurance views sought by the FSA and Treasury
Mon, 28 Apr 2008
Recommended links
Comapre income insurance policiesIncome Protection Insurance - Introduction
Income Protection Insurance - How it works
Income Protection Insurance - benefit levels and exclusions
Being insured essential during financial crisis
| Income Insurance news |
|---|
| Price essential consideration when placing business protection - Thu, 20 Nov 2008 |
| Payment protection insurance report greeted as victory for consumers - Wed, 19 Nov 2008 |
| New private medical insurance product launched by Exeter Friendly - Tue, 18 Nov 2008 |
| More News |
Save on Your Mortgage
Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.
Protect Your Health
Find Critical illness, Life and Private Medical Insurance PMI policies.