[ParlTrack]

Proposal for a directive
Article 8

~~[...]~~deleted

2013/02/14
Committee: ECON

Proposal for a directive
Article 17 – paragraph -1 (new)

-1. In order to prevent conflicts of interest, Member States shall lay down rules ensuring that insurance intermediaries and employees of insurance undertakings disclose to the customer whether they are: (i) an intermediary representing a customer and, where insurance advice is provided, whether it is provided independently and on the basis of a fair analysis of a sufficiently large number of insurance contracts available on the market; (ii) an intermediary acting for and on behalf of one or more insurance undertakings and, where insurance advice is provided, whether it is on the basis of an analysis of the products offered by one or more insurance undertakings; or (iii) an employee of an insurance undertaking and, where insurance advice is provided, that it is provided only on the basis of an analysis of the products offered by the insurance undertaking.

2013/02/14
Committee: ECON

Sari ESSAYAH, Mitro REPO

Proposal for a directive
Article 17 – paragraph 1 – point c – point i

(i) it gives independent advice on the basis of a fair analysis, or

2013/02/14
Committee: ECON

Sari ESSAYAH, Mitro REPO

Proposal for a directive
Article 17 – paragraph 1 – point e a (new)

(ea) whether in relation to the insurance contract, the source of remuneration is: (i) the policyholder; (ii) the insurance undertaking; (iii) another insurance intermediary; (iv) a combination of (i), (ii) and (iii).

2013/02/14
Committee: ECON

Sari ESSAYAH

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;deleted

2013/02/14
Committee: ECON

Sari ESSAYAH

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

Sari ESSAYAH

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

Sari ESSAYAH

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

Sari ESSAYAH

Proposal for a directive
Article 17 – paragraph 4

4. If any payments are made by the customer under the insurance contract after its conclusion, the insurance undertaking or intermediary shall also make the disclosures in accordance with this Article for each such payment.deleted

2013/02/14
Committee: ECON

Sari ESSAYAH, Mitro REPO

Proposal for a directive
Article 17 – paragraph 5

~~5. The Commission shall be empowered to adopt~~ delegated acts in accordance with Article 33. Those delegated acts shall specify: (a) appropriate criteria for determining how the remuneration of the intermediary - including contingent commission – shall be disclosed to the customer as referred to in paragraph 1 (f ) and (g) and paragraph 2 of this Article; (b) appropriate criteria for determining in particular the basis of calculation of all the fee or commission or the combination of both; (c) the steps that insurance intermediaries and insurance undertakings might reasonably be expected to take to disclose their remuneration to the customer.

2013/02/14
Committee: ECON

Sari ESSAYAH

Proposal for a directive
Article 21 – paragraph 1

~~1. Member States shall allow bundling practices but not tying practices.~~deleted

2013/02/14
Committee: ECON

Sari ESSAYAH

Proposal for a directive
Article 21 – paragraph 2

2. When an insurance service or product is offered to a consumer together with another non-insurance service or product as a package, the insurance undertaking or, where applicable, the insurance intermediary shall offer and inform the customer that whether it is possible to buy the components of the package separately and if possible shall provide information of the costs and charges of each component of the package that may be bought through or from it separately.

2013/02/14
Committee: ECON

Sari ESSAYAH

Proposal for a directive
Article 21 – paragraph 3

3. EIOPA shall develop, by 31 December [20XX] at the latest, and update periodically, guidelines for the assessment and the supervision of cross-selling practices indicating, in particular, situations in which cross-selling practices are not compliant with obligations set out in Articles 16, 17 and 18 or paragraph 1 of this Article.deleted

2013/02/14
Committee: ECON

Sari ESSAYAH

Proposal for a directive
Chapter 7 – title

~~ADDITIONAL CUSTO~~CONSUMER PROTECTION REQUIREMENTS IN RELATION TO INSURANCE INVESTMENT PRODUCTS

2013/02/14
Committee: ECON

Sari ESSAYAH

Proposal for a directive
Article 22 – paragraph 1 – introductory part

This Chapter ~~applies additional requirements to insurance mediation, when carried on in relation to~~replaces Articles 15 to 18 of Chapter VI for the sale of insurance investment products by:

2013/02/14
Committee: ECON

15 Amendments of Sari ESSAYAH related to 2012/0175(COD)

ParlTrack - 2011-2024