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Current rules (Solvency I)

The following requirements for the amounts of regulatory capital insurance undertakings must hold against unforeseen events – the result of the “Solvency I” revision of the rules – will remain in force until 1 January 2016.

Non-life insurance directives

These directives harmonise the essential rules on insurance. They provide for:

  • a common prudential framework
  • single license and exclusive prudential supervision by the competent authorities in EU countries
  • that insurance undertakings may operate in any other EU country
  • the protection of insured persons and policyholders, in particular by determining the law applicable to insurance contracts concluded in the EU
  • clarity about what information must be provided to policy holders before entering into a contract / through the duration of the contract.

Life assurance directives

The long list of life assurance directives has been combined into a consolidated EU directive (2002/83) on life assurance – providing all the provisions in a single text.