UK General Insurance News car insurance price comparison
search advanced search

Home >> General Insurance News

Europe looks to boost insurance safeguards

Article by Simon Christopher
Posted: 2/12/2011 - Last updated: -
Rating: 0.00 (0 votes)

European countries are considering introducing a standard guarantee scheme that applies in all EU member countries. But the logistics of how it would work, and the benefits for consumers, are still to be determined.

The EU already operates a system by which insurers from one country have the right to sell cover in all member countries. However, in countries making up a third of the population there is no guarantee scheme to protect customers against insurers going bust, while in the remaining countries the schemes vary widely.

There's also inconsistencies about which schemes operate. In some countries the policy comes under the scheme in the country where the customer lives, while in others the policy comes under the scheme in the country where the insurer is based.

The European Commission is currently working on a scheme that means all countries must have a scheme offering at least a minimum level of protection. However, the current proposal is that customers would only automatically be protected if they dealt with an insurer in their own country. If they took out a policy with a foreign firm, any protection would be dependent on the rules of the foreign country concerned.

There's also debate on exactly what would be covered. Insurers have argued it is only appropriate to apply the rules to life insurance as most other types of policy only last for a set period, thus limiting the potential damage in the event of a collapse.

PLEASE NOTE: News items are intended for information only and should not be relied upon when making business insurance decisions. Due to their nature, some of the information in news stories including any references to taxation, legislation, regulation, or other issues may no longer be current.

Copyright UK Insurance Index All rights reserved.

comments about this article

Comments About this Article:

 Add a Comment

share this article

Share this Article:

rate this article

Rate this Article:

Please rate this article between 1 and 5
with 5 being top.
All ratings received for this article.

all categories ALL CATEGORIES
A-Z Categories

popular categories POPULAR CATEGORIES
Car Insurance
Home Insurance
Life Cover
Mobile Phone Cover
Pet Insurance
Travel Insurance

directory categories DIRECTORY CATEGORIES
Home & Property
Insurance Brokers
Life & Protection
Non UK Insurers
Pet & Animal
Personal Possessions
Specialist Cover

review categories REVIEW CATEGORIES
Car & Motor
Insurance Companies
Life Cover
Pet & Animal

article categories ARTICLE CATEGORIES
Car & Motor
Home & Property
Insurance Awards
Insurance Guides
Life Cover
Pet & Animal

news categories NEWS CATEGORIES
Business News
Car and Motor News
General News
Health News
Home & Property News
Life Cover News
Pet and Animal News
Travel News


General Insurance News RSS Feed General Insurance News Feed

You can subscribe to the general insurance news feed above in a number of ways:

1. Drag the orange RSS button above into your News Reader
2. Drag the URL of the feed into your News Reader
3. Cut and paste the URL of news feed into your News Reader
4. Add the feed to your AOL, Google, MSN or Yahoo account by clicking the buttons below.

Add to Google

Add to My Yahoo

Add to My MSN

Add to My AOL

latest articles LATEST NEWS
Getting the best value GAP insurance
Protection insurance firm warns of policy confusion
Insurers pressure customers to take bargains while they can
Flood insurance talks still unsettled
Speed awareness courses have hidden cost

latest listings LATEST LISTINGS
Trade Direct Public Liability Insurance
Trade Direct Van Insurance
Warranty Direct Gap Insurance
The Insurance Emporium Caravan Insurance
The Insurance Emporium Horse Insurance

latest reviews LATEST REVIEWS
Construct a Quote Van Insurance
Globelink Travel Insurance
Domestic and General Washing Machine Cover
Heritage Classic Car Insurance
Insurance2go Mobile phone insurance (iphone)

Home | Privacy & Cookies | Terms of Use | Contact | Submit Site | Advertisers

Page protected, do not copy

This website uses cookies to ensure a reliable browsing experience. If you continue to use this website you are consenting to us using cookies in this way. To find out what cookies are, which ones we use and why we use them please click here.

Copyright © 2018 UK Insurance Index. All rights reserved.
All directory listings, articles and reviews are provided as information only and do not constitute advice or a recommendation of any product or provider. If you use these insurers, we take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy of these third-party web sites or companies. If you have any doubts you should consult an authorised independent financial adviser for advice based upon your individual needs and circumstances. A database of advisers in your area is available at