An Insurance Guarantee Scheme for Europe?

The Groupe Consultatif Actuariel Européen has issued a response to the European Commission white paper on insurance guarantee schemes.

Whilst agreeing that ensuring adequate protection for policyholders and beneficiaries if an insurance company collapses should be a key objective of the EU, they have expressed reservations with regards to the potential introduction of an insurance guarantee scheme directive as the basis for this scheme relies on a parallel with banking which is not clear-cut.

The full report can be read here.

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