23 Amendments of Arlene McCARTHY related to 2012/0175(COD)
Amendment 114 #
Proposal for a directive
Recital 4
Recital 4
(4) Various types of persons or institutions, such as agents, brokers and ‘bancassurance’ operators, insurance undertakings, travel agents and car rental companies can distribute insurance products. ETo ensure equality of treatment between insurance operators and a consistent level of customer protection requires that all these persons or institutions be covered by this Directive.
Amendment 118 #
Proposal for a directive
Recital 6
Recital 6
(6) In order to guarantee that the same level of consumer protection applies regardless of the channel through which consumers buy an insurance product, either directly from an insurance undertaking or indirectly from an intermediary, the scope of the Directive needs to cover not only insurance undertakings but all other market participants who sell insurance products on an ancillary basis (e.g. travel agents and car rental companies, suppliers of goods not meeting conditions for the exemption).
Amendment 143 #
Proposal for a directive
Recital 30
Recital 30
(30) Consumers should be provided in advance with clear information about the status of the persons who sell the insurance product and about the remuneration which they receive. There is an urgent need to introduce a mandatory status disclosure for European insurance intermediaries and insurance undertakings. This information should be given to the consumer at the pre- contractual stage. Its rolpurpose is to showhelp make the relationship between the insurance undertaking and the intermediary (where applicable) as well as the structure and the content of the intermediaries' remuneration more transparent to the consumer.
Amendment 159 #
Proposal for a directive
Recital 34
Recital 34
(34) In order to avoid mis-selling cases, if necessary, the sale of insurance products should be accompanied withby honest, fair and professional advice.
Amendment 162 #
Proposal for a directive
Recital 37
Recital 37
(37) Prior to the conclusion of a contract, including in the case of non-advised sales, the customer should be given the relevant information about the insurance product to allow the customer to make an informed decision. The insurance intermediary should be able to explain to the customer the key features of the insurance products it sells and therefore its staff should be given appropriate resources and time to do so.
Amendment 175 #
Proposal for a directive
Recital 47
Recital 47
(47) In order to detect potential breaches, the competent authorities should have the necessary investigatory powers, and should establish effective mechanisms to encourage reporting of potential or actual breaches which provide appropriate protection for those who denounce such breaches.
Amendment 206 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – subparagraph 1
Article 2 – paragraph 1 – point 3 – subparagraph 1
3. ‘insurance mediation’ means the activities of advising on , proposing or carrying out other work preparatory to the conclusion of contracts of insurance, concluding such contracts or assisting in the administration and performance of such contracts, in particular in the event of a claim , and the activity of professional management of claims and loss adjusting, including price comparison websites. These activities shall be considered to be insurance mediation also if carried on by an insurance undertaking without the intervention of an insurance intermediary.
Amendment 223 #
Proposal for a directive
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
10. ‘'contingent commission’' means a remuneration in the form of a commission where the amount payable is based on the achievement of agreedproduct or sales targets relating to the business placedactivities run by the intermediary with that insurer;
Amendment 232 #
Proposal for a directive
Article 2 – paragraph 1 – point 18
Article 2 – paragraph 1 – point 18
(18) ‘'remuneration’' means any commission, fee, charge or other payment, including an economic benefit or inducement of any kind, offered, paid or given in connection with insurance mediation activities.
Amendment 298 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1
Article 8 – paragraph 1 – subparagraph 1
Insurance and reinsurance intermediaries, including those who pursue these activities on an ancillary basis, persons carrying on the activities of the professional management of claims, loss adjusting or expert appraisal of claims, and members of staff of insurance undertakings carrying out insurance mediation activities, shall possess appropriate knowledge and ability, as determined by the homest Member State of the intermediary or undertaking, to complete their tasks and perform their duties adequatet a high standard clearly, demonstrating appropriate professional experience relevant to the complexity of the products they are mediating.
Amendment 323 #
Proposal for a directive
Article 10 – paragraph 3 – subparagraph 1 a (new)
Article 10 – paragraph 3 – subparagraph 1 a (new)
1a. Such powers shall include, at least, the rights to: (a) have access to any document in any form whatsoever which would be relevant for the performance of the supervisory duties and to receive a copy of it; (b) demand information from any person and if necessary to summon and question a person with a view to obtaining information; (c) carry out on-site inspections including undercover ones;
Amendment 356 #
Proposal for a directive
Article 16 – paragraph 1 – point a – point ii
Article 16 – paragraph 1 – point a – point ii
(ii) whether or not it offers or provides any type of advice about the insurance products sold and the nature of such advice;
Amendment 387 #
Proposal for a directive
Article 17 – paragraph 1 – point d
Article 17 – paragraph 1 – point d
(d) the exact nature of the remuneration received in relation to the insurance contract;
Amendment 404 #
Proposal for a directive
Article 17 – paragraph 1 – point f a (new)
Article 17 – paragraph 1 – point f a (new)
(fa) if the intermediary receives other kind of remuneration in connection with insurance mediation activities, the nature and the economic value of this remuneration;
Amendment 428 #
Proposal for a directive
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
(a) provide the customer with the amount or, where the precise amount is not capable of being given, the basis of calculation of the fee or commission or the combination of both, if the customer so requests.
Amendment 477 #
Proposal for a directive
Article 18 – paragraph 2
Article 18 – paragraph 2
2. The details referred to in points (a) and (b) of paragraph 1 shall be modulated according to the complexity of the insurance product being proposed and the level of financial risk to the customer, regardless of the distribution route they select.
Amendment 509 #
Proposal for a directive
Article 21 – paragraph 1 a (new)
Article 21 – paragraph 1 a (new)
1a. Member States shall not allow creditors to make loans subject to the contracting of a credit insurance policy or to refuse them where the consumer fails to take out such an insurance policy with the lender or an alternative supplier.
Amendment 552 #
Proposal for a directive
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Member States shall require that, when carrying out insurance mediation with or for customers, an insurance intermediary or insurance undertaking always acts honestly, fairly and professionally in accordance with the best interests of its customers and complies, in particular, with the principles set out in this Article and in Article 25.
Amendment 555 #
Proposal for a directive
Article 24 – paragraph 2
Article 24 – paragraph 2
2. All information, including marketing communications, addressed by the insurance intermediary or insurance undertaking to customers or potential customers shall always be fair, clear and not misleading. Marketing communications shall be clearly identifiable as such by the consumer.
Amendment 624 #
Proposal for a directive
Article 25 – paragraph 4
Article 25 – paragraph 4
4. The customer must receive from the insurance intermediary or insurance undertaking adequate reports on the service provided to its customers. These reports shall include periodic communications to customers, taking into account the type and the complexity of insurance products involved and the nature of the service provided to the customer and shall include, where applicable, all the costs associated with the transactions and services undertaken on behalf of the customer. When providing advice, the insurance intermediary or insurance undertaking shall specify exactly how the advice given meets the personal characteristics of the customer.
Amendment 631 #
Proposal for a directive
Article 27 – paragraph 1
Article 27 – paragraph 1
Member States shall provide that the competent authority immediately publishes any sanction or measure that has been imposed for breaches of the provisions of the national provisions adopted in the implementation of this Directive without undue delay including information on the type and nature of the breach and the identity of persons responsible for it, unless such disclosure would seriously jeopardise insurance and reinsurance markets. Where the publication would cause a disproportionate damage to the parties involved, the competent authorities shall publish the sanctions on an anonymous basis.
Amendment 653 #
Proposal for a directive
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Member States shall ensure that the competent authorities establish effective mechanisms to encourage reporting of potential or actual breaches of national provisions implementing this Directive to the competent authorities.
Amendment 654 #
Proposal for a directive
Article 30 – paragraph 2 – point b
Article 30 – paragraph 2 – point b
(b) appropriate protection for employees of insurance or reinsurance undertakings or intermediaries who denounce, including anonymity where appropriate, for those who denounce the commission of breaches committed within them; and