6 Amendments of Burkhard BALZ related to 2011/2010(INI)
Amendment 19 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Calls on the Commission, in coherence with the definition of relevant details of Solvency II, to come forward with proposals for a minimum harmonisation directive establishing a coherent and consistent cross-border framework for national insurance guarantee schemes (IGS) across Member States providing last-resort protection to consumers exclusively in case insurance untertakings, due to their insolvency, are unable to fulfil their contractual commitments;
Amendment 28 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Supports the adoption of the ‘home’ country principle – whereby all policies written by an insurer, regardless of location of sale, are covered by the ‘home’ IGS – recognising both that: A) under Solvency II the cross-border provision of insurance services will increase; and, B) the failure of an insurer will be linked to the inadequacy of supervision by the ‘home’ supervisor, and thus the burden of responsibility for failure should be borne by the ‘home’ IGS;
Amendment 38 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
Amendment 42 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Stresses that the ‘home’ country approach to IGS can only be credible from a consumer perspective if there is consistency of consumer experience; calls on the Commission to require a single own-language process and point of contact for consumers within their national supervisor for all insurance guarantee claims regardless of the location of the ‘home’ IGS; recommends that EIOPA develop a harmonised approach for both IGS functions (portfolio transfer and policyholder compensation claims) on the basis of simplicity and best practice, if necessary through binding technical standards;
Amendment 54 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Insists that new EU legislation should not result in the dilution of protection offered by existing IGS in Member States, and that consumers should not face any losses as a result of regulatory failure to adequately supervise insurers or intermediaries; calls consequently on the Commission to ensure that a European framework for IGS compensates policyholders for losses in full and without exception for all types of insurance products inprovides for the continuation of insurance contracts by portfolio transfer or compensates valid claims of policyholders in the event of insurer bankruptcy; proposes in case of compensation as a general rule that within three months of the date when the policyholder presented his claim for compensation to the IGS, the IGS shall be required to make an offer for compensation in cases where liability is not contested and the eveamount of insurer bankruptcy, insurer or intermediarcompensation has been quantified; proposes in cases where liability mis- selling, or fraud, within a set period of time, consistent throughout Member States; denied or where it has not been clearly determined or where the compensation amount has not been fully quantified, the IGS is required to provide a reasoned reply to the points made in the policyholder’s claim;
Amendment 70 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes that in the absence of a legally binding EU definition of what constitutes a small- or micro- undertaking, and given the changing nature of such entities over time, proposals for a directive on IGS should be limited to natural persons acting for purposes which can be regarded as outside their trade, business, craft of profession; natural persons linked to the failed insurer such as directors, managers or (qualified) shareholders should be excluded from the group of consumers; requests that the Commission re-evaluate the case for including select legal persons once a legally binding definition is agreed; stresses that as a matter of subsidiarity individual Member States may choose to include legal persons within their national IGS;