Activities of Eva LICHTENBERGER related to 2012/0175(COD)
Legal basis opinions (0)
Amendments (51)
Amendment 46 #
Proposal for a directive
Article 1 – paragraph 2 – point f a (new)
Article 1 – paragraph 2 – point f a (new)
(fa) The insurance contract does not cover health insurance risks.
Amendment 47 #
Proposal for a directive
Article 2 – point 9
Article 2 – point 9
9. ‘advice’ means the provision of a recommendation to a customer, eithercounselling to an actual or potential customer in relation to an insurance product, which is based on a personal recommendation upon their request or at the initiative of the insurance undertaking or the insurance intermediary;
Amendment 49 #
Proposal for a directive
Article 2 – point 10
Article 2 – point 10
10. ‘contingent commission’ means a remuneration in the form of a commission where the amount payable is based on the achievement of any kind of agreed targets relating to the business placedactivities run by the intermediary with that insurer;
Amendment 50 #
Proposal for a directive
Article 2 – point 18
Article 2 – point 18
(18) ‘remuneration’ means any commission, fee, charge or any other payment, including an direct or indirect economic benefit of any kind, offered or given in connection with insurance mediation activities.;
Amendment 51 #
Proposal for a directive
Article 2 – point 19
Article 2 – point 19
(19) ‘tying practice’ means the offering of: - two or more insurance services or products in a package where these insurance services or products are not made available to the consumer separately - one or more ancillary services with an insurance service or product in a package where this insurance service or product is not made available to the consumer separately.;
Amendment 52 #
Proposal for a directive
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
Without prejudice to the first subparagraph, Member States may stipulate that insurance and reinsurance undertakings and other bodies may cooperate with the competent authorities in registering insurance and reinsurance intermediaries and in the application of the requirements of Article 8(2) to such intermediaries. In particular, in the case ofNevertheless, tied insurance intermediaries, they may shall also be registered by an insurance undertaking by an association of insurance undertakings, or by an insurance or reinsurance intermediary under the supervision of a competent authoritywith a competent authority in their home Member State.
Amendment 53 #
Proposal for a directive
Article 3 – paragraph 8 a (new)
Article 3 – paragraph 8 a (new)
8a. Member States shall apply the registration requirements set out in this Article to insurance intermediaries, which fall within the scope of paragraph 8b. In that case Member States shall ensure that the administrative burden stemming from such requirements is proportionate to the nature, scale and complexity of the activity.
Amendment 54 #
Proposal for a directive
Article 3 – paragraph 8 b (new)
Article 3 – paragraph 8 b (new)
8b. The proportionate registration requirements set out in paragraph 8a shall apply to an insurance intermediary which conducts insurance mediation on an ancillary basis, provided that its activities meet all the following conditions: (a) the principal professional activity of the insurance intermediary is other than insurance mediation; (b) the insurance intermediary only mediates certain insurance products that are complementary to a product or service and clearly identifies them in a register; (c) the insurance products concerned do not cover life assurance, health insurance or liability risks.
Amendment 55 #
Proposal for a directive
Article 3 – paragraph 8 c (new)
Article 3 – paragraph 8 c (new)
8c. The condition of the proportionate registration requirements referred to in paragraph 8a of this Article is that the insurance intermediary acts directly or on behalf of or has entered into a specific agreement for the mediation of the insurance products concerned with one or several insurance undertaking(s) or registered insurance intermediaries, each of which accepts responsibility for ensuring compliance by the insurance intermediary with paragraphs 1 and 2 of this Article and Articles 15 and 16 of this Directive in relation to the products to which the agreement relates.
Amendment 56 #
Proposal for a directive
Article 3 a (new)
Article 3 a (new)
Article 3a Registered insurance and reinsurance intermediaries shall be allowed to take up and pursue the activity of insurance and reinsurance mediation in the Union by means of both freedom of establishment and freedom to provide services.
Amendment 57 #
Proposal for a directive
Article 4
Article 4
Amendment 58 #
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Intermediaries who are subject to paragraphs 1 and 2 of this Article shall be subject to the provisions of Chapters I, III, IV, V, VIII, IX and Articles 15 and 16 of this Directive.
Amendment 59 #
Proposal for a directive
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
1. Any insurance or reinsurance intermediary who intends to carry on business within the territory of another Member State for the first time under the freedom to provide services or the freedom of establishment shall communicate the following information to the competent authority of the other and his home Member State.
Amendment 60 #
Proposal for a directive
Article 8 – paragraph 8 – introductory part
Article 8 – paragraph 8 – introductory part
8. The Commission shall be empowered to adopt delegated acts in accordance with Article 33. Those delegated acts shallEIOPA shall develop draft regulatory standards which specify
Amendment 61 #
Proposal for a directive
Article 8 – paragraph 8 – point c a (new)
Article 8 – paragraph 8 – point c a (new)
(ca) the notion of good repute for the purposes of paragraph 2.
Amendment 62 #
Proposal for a directive
Article 10 – paragraph 2
Article 10 – paragraph 2
2. The authorities referred to in paragraph 1 shall be either public authorities or bodies recognised by national law or by public authorities expressly empowered for that purpose by national law. They shall not be insurance or reinsurance undertakings or associations whose members directly or indirectly include insurance or reinsurance undertakings or insurance or reinsurance intermediaries.
Amendment 63 #
Proposal for a directive
Article 10 – paragraph 3 a (new)
Article 10 – paragraph 3 a (new)
3a. The powers referred to in paragraph 3 shall be exercised in conformity with national law and 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; (d) carry out mystery shopping; (e) request temporary prohibition of professional activity; (f) require insurance undertakings to provide information; (g) refer matters for criminal prosecution; (h) allow auditors or experts to carry out verifications or investigations.
Amendment 64 #
Proposal for a directive
Article 10 – paragraph 3 b (new)
Article 10 – paragraph 3 b (new)
3b. Competent authorities shall establish a website for the comparison of insurance products. These websites shall provide information on the key features of insurance products and all contract conclusion costs. EIOPA shall develop draft implementing technical standards on the standards for disclosure of insurance product features, contract conclusion costs and product comparison for this website. This website shall be financed independently from contributions of insurance intermediaries and insurance undertakings or related undertakings.
Amendment 65 #
Proposal for a directive
Article 15 – paragraph 2 a (new)
Article 15 – paragraph 2 a (new)
2a. Member States shall ensure that insurance undertakings disclose information on the success of customer's claims. Therefore, those insurance undertakings shall disclose for each type of policy: (a) how many claims made are paid, (b) the average payout per premium; and (c) the average time between a claim being made and the payout. Insurance intermediaries shall provide the customer with this information prior to the conclusion of any insurance contract. EIOPA shall develop a draft implementing technical standard on the measurement and disclosure of customers´ claims as referred to in this Article.
Amendment 66 #
Proposal for a directive
Article 15 – paragraph 2 b (new)
Article 15 – paragraph 2 b (new)
Amendment 67 #
Proposal for a directive
Article 15 – paragraph 2 c (new)
Article 15 – paragraph 2 c (new)
2c. Intermediaries shall disclose by means of a short standardised notice that they have checked before the conclusion of a insurance contract, whether the customer had already purchased a suitable product for the need originally identified by the intermediary.
Amendment 68 #
Proposal for a directive
Article 16 – point a – point v a (new)
Article 16 – point a – point v a (new)
(va) whether an insurance intermediary or an insurance undertaking remunerates any personnel or contractual staff, appoints representatives or other insurance intermediaries that this does not impede compliance with the obligation to act in the best interest of the customer;
Amendment 69 #
Proposal for a directive
Article 16 – point a – point v b (new)
Article 16 – point a – point v b (new)
(vb) intermediaries shall disclose by means of a short standardised notice whether they use an IT-programme to compare available insurance products as well as their characteristics, premiums and the costs involved. If an intermediary uses any IT-programme for overview and comparison, this shall also be disclosed by means of a short standardised notice.
Amendment 70 #
Proposal for a directive
Article 17 – paragraph 1 – point c – point i
Article 17 – paragraph 1 – point c – point i
(i) it gives advice on the basis of a fair analysis, orn assessment in the interest of the customer,
Amendment 71 #
Proposal for a directive
Article 17 – paragraph 1 – point c – point iii
Article 17 – paragraph 1 – point c – point iii
(iii) it is not under a contractual obligation to conduct insurance mediation business exclusively with one or more insurance undertakings and does not give advice on the basis of a fair analysisn assessment based on the needs of the customer. In that case, it shall provide the names of the insurance undertakings with which it may and does conduct business ;
Amendment 72 #
Proposal for a directive
Article 17 – paragraph 1 – point d
Article 17 – paragraph 1 – point d
Amendment 73 #
Proposal for a directive
Article 17 – paragraph 1 – point e – point iii
Article 17 – paragraph 1 – point e – point iii
Amendment 74 #
Proposal for a directive
Article 17 – paragraph 1 – point e a (new)
Article 17 – paragraph 1 – point e a (new)
(ea) if the intermediary receives remuneration in connection with insurance mediation activities, the nature and the direct and indirect economic value of this remuneration.
Amendment 77 #
Proposal for a directive
Article 17 – paragraph 1 – point g
Article 17 – paragraph 1 – point g
(g) if the amount of the cCommission is based on the achievement of agreedny targets or thresholds relating to the business placed by the intermediary with an insurer, the targets or thresholds as well as the amounts payable on the achievement of them are banned. If the intermediary is to be remunerated by a commission, it shall clearly inform the customer with the amount and the basis for the calculation of such commission.
Amendment 79 #
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 requesincluding all actual costs, consisting of contract conclusion costs and operation mediation costs in monetary terms. Where it is not possible to disclose the operating mediation costs in monetary terms, those costs shall be revealed as a percentage of the customer's annual contribution. The customer shall be informed by an annual note of the respective annual costs in monetary terms. EIOPA shall develop draft implementing technical standards on this benchmark on commissions for the different categories of insurance products.
Amendment 81 #
Proposal for a directive
Article 18 – paragraph 1 – introductory part
Article 18 – paragraph 1 – introductory part
1. Prior to the conclusion of any specific contract, the insurance intermediary – including tied ones– or insurance undertaking shall indentify , on the basis of information providan assessment of the customer needs by the customerased on an inquiry of the customer's best interest:
Amendment 82 #
Proposal for a directive
Article 18 – paragraph 1 – point b
Article 18 – paragraph 1 – point b
(b) and shall specify to the customer the different insurance policies he/she has escalated and the underlying reasons for any offers or advice to the customer on a specified insurance product , if given.
Amendment 83 #
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 specifying what is not covered by the suggested insurance product.
Amendment 85 #
Proposal for a directive
Article 20 – paragraph 1 – point b
Article 20 – paragraph 1 – point b
(b) in a clear and accurate manner, comprehensible to the customer in compliance with Article 15(2); and
Amendment 86 #
Proposal for a directive
Article 20 – paragraph 1 – point c
Article 20 – paragraph 1 – point c
(c) in anthe official language of the Member State in which the risk is situated or the Member State of the commitment or in any other language agreewere the consumer is resident. Member States may maintain or introduce in their national law language requirements regarding contractual information to ensure such information is presented in a language easily understood by the partiesconsumer. It shall be provided free of charge.
Amendment 87 #
Proposal for a directive
Article 20 – paragraph 1 a (new)
Article 20 – paragraph 1 a (new)
1a. The insurance undertaking shall provide insurance intermediaries and customers a standardised information sheet containing the key information regarding the insurance contract.
Amendment 92 #
Proposal for a directive
Article 21 – paragraph 3
Article 21 – paragraph 3
Amendment 93 #
Proposal for a directive
Article 23 – paragraph 2
Article 23 – paragraph 2
2. Where steps taken by theAn insurance intermediary or insurance undertaking in compliance with Articles 15, 16 and 17shall maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps designed to prevent conflicts of interest from adversely affecting the interests of its customers. Where steps taken by the insurance intermediary or insurance undertaking are not sufficient to ensure, with reasonable confidence, that risks of damage to the interests of customers and potential customers arising from conflicts of interest will be prevented, the insurance intermediary or insurance undertaking shall clearly disclose the general nature or sources of conflicts of interest to the customer before undertaking business on the customer's behalf.
Amendment 94 #
Proposal for a directive
Article 23 – paragraph 2 a (new)
Article 23 – paragraph 2 a (new)
2a. The disclosure must: (a) be made in a durable medium; (b) include sufficient detail, taking into account the nature of the customer, to enable that customer to take an informed decision with respect to the service in the context of which the conflict of interest arises.
Amendment 96 #
Proposal for a directive
Article 24 – paragraph 5 – point a
Article 24 – paragraph 5 – point a
(a) assess a sufficiently large numberrange of insurance products available on the market. The insurance products should be diversified with regard to their type and issuers or product providers and should not be limited to insurance products issued or provided by entities having close links with the insurance intermediary or insurance undertaking; and
Amendment 98 #
Proposal for a directive
Article 24 – paragraph 5 – point b
Article 24 – paragraph 5 – point b
(b) not accept or receivetain fees, commissions or any monetary benefits paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to customers.
Amendment 100 #
Proposal for a directive
Article 25 – paragraph 1
Article 25 – paragraph 1
1. When providing advice the insurance intermediary or insurance undertaking shall obtain the necessary information regarding the customer's or potential customer's needs, knowledge and experience in the field relevant to the specific type of product or service, as well as regarding the customer's or potential customer's financial situationinterest and his investment objectives, on the basis of which the insurance intermediary or insurance undertaking should recommend the insurance products that are suitablein the best interest for the customer or potential customer.
Amendment 101 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 1
Article 25 – paragraph 2 – subparagraph 1
2. Member States shall ensure that insurance intermediaries and insurance undertakings, when carrying on insurance mediation in relation to sales where no advice is given, ask the customer or potential customer to provide information regarding the customer's or potential customer's knowledge and experience in the investment fieldneeds relevant to the specific type of product or service offered or demanded so asadvised to enable the insurance intermediary or insurance undertaking to assess whetherinquire if the insurance service or product envisaged is appropriate foris in the best interest of the customer.
Amendment 102 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 2
Article 25 – paragraph 2 – subparagraph 2
Where the insurance intermediary or insurance undertaking considers, on the basis of the information receivasked under the previous subparagraph, that the product or service is not appropriate toin the best interest of the customer or potential customer, the insurance intermediary or insurance undertaking shall warninform the customer or potential customer why. This warning mayshall be provided in a standardised format.
Amendment 103 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 3
Article 25 – paragraph 2 – subparagraph 3
Where customers or potential customers do cannot provide the information referred to in the first subparagraph, or where they cannot provide insufficient information regarding their knowledge and experience, the insurance intermediary or insurance undertaking shall warn them thatthe asked information, the insurance intermediary or insurance undertaking shall not offer or advice the service or product envisaged, whereas the insurance intermediary or insurance undertaking is not in a position to determine whether the service or product envisaged is appropriate for them. This warninginformation may be provided in a standardised format with instruction of information needed for the insurance intermediary or insurance undertaking to make an appropriate assessment in the customer's best interest.
Amendment 105 #
Proposal for a directive
Article 25 – paragraph 3 a (new)
Article 25 – paragraph 3 a (new)
3a. Member States shall allow insurance intermediaries and insurance undertakings, when carrying on insurance mediation in relation to sales where no advice is given, to proceed without obtaining the information or make the determination provided for in paragraph 2, if the following conditions are met: (a) the insurance mediation activity is performed at the initiative of the customer or potential customer, (b) the insurance mediation activity refers to insurance-based investments which: (i) only provide investment exposure to underlying financial instruments deemed non-complex as set out under point (a) of Article 25(3) of [Directive 2004/39/EC]; or (ii) do not incorporate a structure which makes it difficult for the customer to understand the risk involved. (c) the customer or potential customer has been clearly informed that the insurance intermediary or insurance undertaking is not required to assess the suitability or appropriateness of the product offered and that therefore he does not benefit from relevant conduct of business rules. This warning may be provided in a standardised format.
Amendment 106 #
Proposal for a directive
Article 26 – paragraph 2 a (new)
Article 26 – paragraph 2 a (new)
2a. Member States shall ensure that the competent authorities have in place appropriate measures enabling them to encompass and disclose by means of a register identity of insurance, tied- insurance and reinsurance intermediaries who breached Chapter VI and VII of this Directive as well the identity of the intermediate or insurance undertaking, the respective intermediate is acting for. EIOPA shall provide a list of hyperlinks to each register of the relevant competent national authorities. Likewise, competent national authorities shall provide hyperlinks to the aforementioned list kept by EIOPA.
Amendment 107 #
Proposal for a directive
Article 26 a (new)
Article 26 a (new)
Amendment 108 #
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. EIOPA shall issue guidelines addressed to the competent authorities, if applicable, in accordance with Article 16 of Regulation No (EU) 1094/2010 on the types of administrative measures and sanctions and level of administrative pecuniary sanctions.
Amendment 109 #
Proposal for a directive
Article 35 – paragraph 1
Article 35 – paragraph 1
1. FivThree years after the entry into force of the provisions on mandatory disclosure as laid down in Articles 15 to 20 as well as Articles 24 and 25 of this Directive, the Commission shall review this Directive. The review shall include a general survey of the practical application of rules laid down in this Directive taking due account of developments in the retail investment products markets as well as experiences acquired in practical application of this Directive and Regulation on key information documents for investment products and [MIFID II]. The review shall reflect on a possible application of the provisions of this Directive to products falling under the scope of Directive 2003/41/EC. This review shall also include a specific analysis of the impact of Article 17(2), taking into account the situation of competition on the market of intermediation services for contracts other than contracts in any of the classes specified in Annex I of Directive 2002/83/EC and the impact of the obligations referred to in Article 17(2) on insurance intermediaries which are small and medium sized enterprises.
Amendment 110 #
Proposal for a directive
Article 35 – paragraph 1 a (new)
Article 35 – paragraph 1 a (new)
1a. One year after this directive has come into effect, EIOPA shall carry out an analysis of the different insurance markets of the EU Member States. That analysis shall assess and compare: (a) the relation between insurance coverage of consumers and actual payouts to reveal in how far consumers are protected against major risks by the products of insurance undertakings, (b) intermediary costs which consumers of different Member States´ insurance markets have to bear. EIOPA shall publish the methodology and findings of this assessment as a report.