Activities of Malcolm HARBOUR related to 2012/0175(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on insurance mediation (recast)
Amendments (31)
Amendment 49 #
Proposal for a directive
Article 2 – paragraph 1 – point 19
Article 2 – paragraph 1 – point 19
Amendment 51 #
Proposal for a directive
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
Amendment 69 #
Proposal for a directive
Article 8 – paragraph 7 – subparagraph 2
Article 8 – paragraph 7 – subparagraph 2
Amendment 71 #
Proposal for a directive
Article 8 – paragraph 7 – subparagraph 3
Article 8 – paragraph 7 – subparagraph 3
Amendment 73 #
Proposal for a directive
Article 8 – paragraph 7 – subparagraph 4
Article 8 – paragraph 7 – subparagraph 4
Amendment 78 #
Proposal for a directive
Article 13 – paragraph 1 – introductory part
Article 13 – paragraph 1 – introductory part
1. Member States shall ensure the setting- up of appropriate, effective, impartial and independent complaints and redress procedures for the out-of-court settlement of disputes between insurance intermediaries and customers, and between insurance undertakings and customers, using existing bodies where appropriate. Member States shall further ensure that all insurance undertakings and insurance intermediaries participate in the procedures for the out-of-court settlement of disputes where the following conditions are met:
Amendment 81 #
Proposal for a directive
Article 13 – paragraph 1 – point a
Article 13 – paragraph 1 – point a
Amendment 85 #
Proposal for a directive
Article 13 – paragraph 1 – point b
Article 13 – paragraph 1 – point b
Amendment 88 #
Proposal for a directive
Article 13 – paragraph 1 – point c
Article 13 – paragraph 1 – point c
Amendment 91 #
Proposal for a directive
Article 13 – paragraph 1 – point d
Article 13 – paragraph 1 – point d
Amendment 94 #
Proposal for a directive
Article 13 – paragraph 1 – point e
Article 13 – paragraph 1 – point e
Amendment 97 #
Proposal for a directive
Article 13 – paragraph 1 – point f
Article 13 – paragraph 1 – point f
Amendment 100 #
Proposal for a directive
Article 13 – paragraph 1 – subparagraph 1 a (new)
Article 13 – paragraph 1 – subparagraph 1 a (new)
Where a customer initiates a procedure for alternative dispute resolution laid down in national law against an insurance intermediary or insurance undertaking with regard to a dispute concerning rights and obligations established under this Directive, the insurance intermediary or insurance undertaking shall be required to participate in that procedure.
Amendment 101 #
Proposal for a directive
Article 13 – paragraph 1 – subparagraph 1 (a) (new)
Article 13 – paragraph 1 – subparagraph 1 (a) (new)
For the purposes of the application of this Directive the competent authorities shall cooperate with each other and with the entities responsible for out-of-court complaint and redress procedures referred to above and to the extent permitted by EU Directives or Regulations in force.
Amendment 109 #
Proposal for a directive
Article 17 – paragraph 1 – point d
Article 17 – paragraph 1 – point d
Amendment 113 #
Proposal for a directive
Article 17 – paragraph 1 – point f
Article 17 – paragraph 1 – point f
(f) if the intermediary will receive a fee or a commission of any kind, the full amount of the remunerationfee concerning the insurance products being offered or considered or, where the precise amount is not capable of being given, the basis of calculation of all the fee or commission or the combination of both;
Amendment 114 #
Proposal for a directive
Article 17 – paragraph 1 – point g
Article 17 – paragraph 1 – point g
Amendment 119 #
Proposal for a directive
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. By derogation from paragraph 1 (f) for five years from the date on which this Directive comes into force, the intermediary of insurance contracts other than contracts in any of the classes specified in Annex I of Directive 2002/83/EC, shall, prior to the conclusion of any such insurance contract, iIf the intermediary is to be remunerated by a fee or commission, it shall:
Amendment 120 #
Proposal for a directive
Article 17 – paragraph 3
Article 17 – paragraph 3
Amendment 125 #
Proposal for a directive
Article 17 – paragraph 5
Article 17 – paragraph 5
Amendment 137 #
Proposal for a directive
Article 21 – paragraph 1
Article 21 – paragraph 1
Amendment 140 #
Proposal for a directive
Article 21 – paragraph 2
Article 21 – paragraph 2
2. When an insurance service or product is offered together with another service or product as a package, the insurance undertaking or, where applicable, the insurance intermediary shall offer and inform the customer thatwhether it is possible to buy the components of the package separately and shall provide information of the costs and charges of each component of the package that may be bought through or from it separately.
Amendment 142 #
Proposal for a directive
Article 21 – paragraph 3
Article 21 – paragraph 3
Amendment 146 #
Proposal for a directive
Article 22 – paragraph 1 a (new)
Article 22 – paragraph 1 a (new)
Article 23 (1) and (2) shall also apply to insurance intermediaries and insurance undertakings when carrying out insurance mediation in relation to all insurance products.
Amendment 149 #
Proposal for a directive
Article 22 – paragraph 1 b (new)
Article 22 – paragraph 1 b (new)
Amendment 153 #
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 and/or sources of conflicts of interest toand the customer before undertaking business onsteps taken to mitigate those risks to the customer's behalf.
Amendment 154 #
Proposal for a directive
Article 23 – paragraph 2 a (new)
Article 23 – paragraph 2 a (new)
2 a. The disclosure must: (a) be made in a durable medium; and (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 156 #
Proposal for a directive
Article 24 – paragraph 1 a (new)
Article 24 – paragraph 1 a (new)
1 a. The implementation of the information requirements contained in Articles 24 and 25 should be proportionate, taking into account whether or not the customer is a professional customer as specified in the Annex.
Amendment 165 #
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 169 #
Proposal for a directive
Article 24 – paragraph 5 – point b
Article 24 – paragraph 5 – point b
(b) not accept or receiveand retain 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 174 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 3 a (new)
Article 25 – paragraph 2 – subparagraph 3 a (new)
Member States shall allow insurance intermediaries and insurance undertakings, when carrying on insurance mediation in relation to sales where no advice is given, to provide those services to their customers without the need to obtain the information or make the determination provided for in paragraph 2 where all the following conditions are met: a) the non-advised service refers to insurance-based investments which: i) only provide investment exposure to underlying financial instruments deemed non-complex as set out under Article 25(3)(a) of [Directive 2004/39/EC*]; or ii) do not incorporate a structure which makes it difficult for the customer to understand the risk involved. b) the product or service is provided at the initiative of the customer or potential customer, c) the customer or potential customer has been clearly informed that in the provision of this service 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 the corresponding protection of the relevant conduct of business rules. This warning may be provided in a standardised format, and d) the insurance intermediary or insurance undertaking complies with its obligations under Article 23.