[ParlTrack]

Proposal for a directive
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 nature of remuneration which they receive. There is a 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 role is to show the relationship between the insurance undertaking and the intermediary (where applicable) as well as the ~~structure and the content~~nature of the intermediaries' remuneration.

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
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 remuneration 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 bothunder the condition that it ensures a level playing field between all distribution channels, and where necessary and proportional, a Member State can require from the intermediary or the insurance undertaking, upon request of the customer, other disclosure requirements;

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 1 – point g

(g) if the amount of the commission is based on the achievement of agreed 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.deleted

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 2

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, if the intermediary is to be remunerated by a fee or commission, (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. (b) inform the customer of his right to request the information referred to in point (a).deleted

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 3

3. The insurance undertaking or insurance intermediary shall also inform the customer about the nature and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question.deleted

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
Article 24 – paragraph 5 – point b

(b) not accept or receive 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.deleted

2013/02/12
Committee: JURI

Louis MICHEL

Proposal for a directive
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 nature of remuneration which they receive. There is a 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 role is to show the relationship between the insurance undertaking and the intermediary (where applicable) as well as the ~~structure and the content~~nature of the intermediaries' remuneration.

2013/02/14
Committee: ECON

Louis MICHEL

Proposal for a directive
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 remuneration 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;under the condition that it ensures a level playing field between all distribution channels, and where necessary and proportional, a member state can require from the intermediary or the insurance undertaking, upon request of the customer, other disclosure requirements.

2013/02/14
Committee: ECON

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 1 – point g

(g) if the amount of the commission is based on the achievement of agreed 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.deleted

2013/02/14
Committee: ECON

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 2

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, if the intermediary is to be remunerated by a fee or commission, (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. (b) inform the customer of his right to request the information referred to in point (a).deleted

2013/02/14
Committee: ECON

Louis MICHEL

Proposal for a directive
Article 17 – paragraph 3

3. The insurance undertaking or insurance intermediary shall also inform the customer about the nature and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question.deleted

2013/02/14
Committee: ECON

Louis MICHEL

Proposal for a directive
Article 24 – paragraph 5 – point b

(b) not accept or receive 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.deleted

2013/02/14
Committee: ECON

Activities of Louis MICHEL related to 2012/0175(COD)

Plenary speeches (1)

Amendments (12)

ParlTrack - 2011-2024