Insurance

A single insurance market, promoting economic efficiency and market integration, requires a common framework, to allow insurers to operate throughout the EU and to establish and provide services freely. The legal framework must also protect customers, particularly individuals, where the safe delivery of promised benefits can be vital. This is achieved by a common prudential framework, founded on three generations of life and non-life directives, harmonising essential rules. This framework needs to be updated, revised, completed and – where possible – simplified to respond to market developments and product sophistication.

The immediate legislative work is reflected in the Financial Services Action Plan. Further information on the ongoing work can be found on following topics: motor insurance, solvency, reinsurance, insurance and e-commerce, insurance guarantee schemes and insurance accounting.