30 Amendments of Pablo ZALBA BIDEGAIN related to 2012/0175(COD)
Amendment 113 #
Proposal for a directive
Recital 4
Recital 4
(4) Various types of persons or institutions, such as agents, brokers and ‘bancassurance’ operators, insurance undertakings, travel agents and car rental companies can distribute insurance products. Equality of treatment between operators and customer protection requires that all these persons or institutions be covered by this Directive.
Amendment 116 #
Proposal for a directive
Recital 5
Recital 5
(5) The application of Directive 2002/92/EC has shown that a number of provisions require further precision with a view to facilitating the exercise of insurance and reinsurance mediation and that the protection of consumers requires an extension of the scope of that Directive to all sales of insurance products, whether by insurance intermediaries or insurance undertakings. In respect of their sales, after-sales and claims processes insurance undertakings which sell directly insurance products, should be brought into the scope of the new Directive on a similar basis as insurance agents and brokers.
Amendment 119 #
Proposal for a directive
Recital 7
Recital 7
Amendment 125 #
Proposal for a directive
Recital 16
Recital 16
(16) Insurance and reinsurance intermediaries should be able to avail themselves of the freedom of establishment and the freedom to provide services which are enshrined in the Treaty. Accordingly, registration with or a declaration to their home Member State should allow insurance and reinsurance intermediaries to operate in other Member States in accordance with the principles of freedom of establishment and freedom to provide services, provided that an appropriate notification procedure has been followed between the competent authorities.
Amendment 128 #
Proposal for a directive
Recital 22
Recital 22
(22) It is important to guarantee a high level of professionalism and competence among insurance and reinsurance intermediaries and the employees of direct insurers who are involved in activities preparatory to, during and after the sales of insurance policies. Therefore, the professional knowledge of an intermediary, of the employees of direct insurers, and of car rental companies and travel agents, as well as the professional knowledge of persons carrying on the activities of the management of claims, loss adjusting or expert appraisal of claims needs to match the level of complexity of these activities. Continuing education should be ensured.
Amendment 136 #
Proposal for a directive
Recital 28
Recital 28
(28) There is a need for appropriate and effective out-of-court complaint and redress procedures in the Member States in order to settle disputes between insurance intermediaries or undertakings and customers, using, where appropriate, existing procedures. Effective out-of-court complaint and redress procedures should be available to deal with disputes concerning rights and obligations established under this Directive between insurance undertakings or persons selling or offering insurance products and customers. In order to enhance the effectiveness of out-of-court resolution of disputes procedures dealing with complaints submitted by customers, this Directive should provide that insurance undertakings or persons selling or offering insurance products have to participate in dispute resolution procedures, which do not result in a binding decision, instituted against themselves by customers and concerning rights and obligations established under this Directive. Such out- of-court resolution of disputes procedures would aim to achieve a quicker and less expensive settlement of disputes between insurance undertakings or persons selling or offering insurance products and customers and lightening of the burden on the court system. However, out-of-court resolution of disputes procedures should not prejudice the rights of the parties to such procedures to bring legal proceedings before courts. Without prejudice to the right of customers to bring their action before the courts, Member States should ensure that ADR entities dealing with disputes referred to under this Directive cooperate in resolving cross-border disputes. Member States should encourage ADR entities dealing with such disputes to become part of FIN- NET.
Amendment 142 #
Proposal for a directive
Recital 30
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 remuneration which they receive. There is a need to introduce a mandatoryupon request 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 of the intermediaries' remuneration.
Amendment 152 #
Proposal for a directive
Recital 31
Recital 31
(31) In order to mitigate conflicts of interest between the seller and the buyer of an insurance product, it is necessary to ensure sufficient disclosure of remuneration of insurance distributors. Accordingly, for life insurance products, the intermediary and the employee of the insurance intermediary or the insurance undertaking should be obliged to inform the customer about its remuneration, in advance of the sale. For other insurance products, subject to a transitional period of 5 years, the customer must be informed of the customer's right to request this information, which must be provided to the customer upon request.
Amendment 158 #
Proposal for a directive
Recital 34
Recital 34
(34) In order to avoid mis-selling cases, if necessary, the sale of insurance products should be accompanied with honest and professional advice.
Amendment 178 #
Proposal for a directive
Recital 51
Recital 51
Amendment 193 #
Proposal for a directive
Article 1 – paragraph 2 – point e
Article 1 – paragraph 2 – point e
(e) the insurance is complementary to goodsthe product or service supplied by any provider, where such insurance covers the risk of breakdown, loss of or damage to the goods supplied by that provider ;
Amendment 201 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – subparagraph 1
Article 2 – paragraph 1 – point 3 – subparagraph 1
3. ‘insurance mediation’ means the activities, for remuneration, of advising on , proposing or carrying out other work preparatory to the conclusion of contracts of insurance, concluding such contracts or assisting in the administration and performance of such contracts, in particular in the event of a claim, and the activity of professional management of claims and loss adjusting. These activities shall be considered to be insurance mediation also if carried on by an insurance undertaking without the intervention of an insurance intermediary with the distribution of insurance products.
Amendment 207 #
Proposal for a directive
Article 2 – paragraph 1 – point 3 – subparagraph 2 – point a
Article 2 – paragraph 1 – point 3 – subparagraph 2 – point a
(a) the provision of information on an incidental basis to a customer in the context of another professional activity, if the provider does not take any additional steps to assist the customer in concluding or performing an insurance contract, the management of claims of an insurance undertaking on a professional basis, and loss adjusting and expert appraisal of claims shall also not be considered as insurance mediation;
Amendment 214 #
Proposal for a directive
Article 2 – paragraph 1 – point 6 – subparagraph 1
Article 2 – paragraph 1 – point 6 – subparagraph 1
6. ‘reinsurance mediation’ means the activities, for remuneration, of advising on, proposing or carrying out other work preparatory to the conclusion of contracts of reinsurance, of concluding such contracts or assisting in the administration and performance of such contracts, in particular in the event of a claim, and the activity of professional management of claims and loss adjusting. These activities shall be considered to be reinsurance mediation also if carried on by a reinsurance undertaking without the intervention of a reinsurance intermediary.
Amendment 215 #
Proposal for a directive
Article 2 – paragraph 1 – point 6 – subparagraph 2 – point a
Article 2 – paragraph 1 – point 6 – subparagraph 2 – point a
(a) the provision of information on an incidental basis in the context of another professional activity provided that the purpose of that activity is not to assist the customer in concluding or performing a reinsurance contract, the management of claims of a reinsurance undertaking on a professional basis, and loss adjusting and expert appraisal of claims shall also not be considered as reinsurance mediation;
Amendment 216 #
Proposal for a directive
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
Amendment 247 #
Proposal for a directive
Article 3 – paragraph 1 – subparagraph 1
Article 3 – paragraph 1 – subparagraph 1
Amendment 273 #
Proposal for a directive
Article 3 – paragraph 8 a (new)
Article 3 – paragraph 8 a (new)
8a. Member States may provide that those persons who exercised a mediation activity before XXX, who were entered in a register and who had a level of training and experience similar to that required by this Directive, shall be automatically entered in the register to be created, once the requirements set down in Article 4(3) and (4) are complied with.
Amendment 296 #
Proposal for a directive
Article 8 – paragraph 1 – subparagraph 1
Article 8 – paragraph 1 – subparagraph 1
Insurance and reinsurance intermediaries, including those who pursue these activities on an ancillary basis, persons carrying on the activities of the professional management of claims, loss adjusting or expert appraisal of claims, and members of staff of insurance undertakings carrying out insurance mediation activities, shall possess appropriate knowledge and ability, as determined by the home Member State of the intermediary or undertaking, to complete their tasks and perform their duties adequately, demonstrating appropriate professional experience relevant to the complexity of the products they are mediating.
Amendment 310 #
Proposal for a directive
Article 8 – paragraph 8
Article 8 – paragraph 8
Amendment 342 #
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
Member States shall ensure that insurance and reinsurance undertakings and intermediaries use the insurance and reinsurance mediation services only of registered insurance and reinsurance intermediaries or of the persons referred to in Article 1(2) or of the persons who have fulfilled the declaration procedure referred to in Article 4 .
Amendment 344 #
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
1. Member States shall require that, when carrying out insurance mediation with or for customers, an insurance intermediary or insurance undertaking acts honestly, fairly and professionally in accordance with the best interests of its customers.
Amendment 462 #
Proposal for a directive
Article 18 – title
Article 18 – title
Advice, and standards for sales where no advice is given
Amendment 486 #
Proposal for a directive
Article 18 – paragraph 4
Article 18 – paragraph 4
4. Prior to the conclusion of a contract, whether or not advice is given, the insurance intermediary or insurance undertaking shall give the customer the relevant information about the insurance product in a comprehensible form to allow the customer to make an informed decision, while taking into account the complexity of the insurance product and the type of costumer.
Amendment 559 #
Proposal for a directive
Article 24 – paragraph 3 – point a
Article 24 – paragraph 3 – point a
(a) the insurance intermediary or insurance undertaking and its services. When advice is provided, iand its services. Information shall specify whether the advice is provided on an independent basis and whether it is based on a broad or on a more restricted analysis of the market and shall indicate whether the insurance intermediary or insurance undertaking will provide the customer with the on-going assessment of the suitability of the insurance product recommended to the customer;
Amendment 572 #
Proposal for a directive
Article 24 – paragraph 4
Article 24 – paragraph 4
4. The information referred to in this Article should be provided in a comprehensible form in such a manner that the customers or potential customers are reasonably able to understand the nature and risks of the specific insurance product that is being offered and, consequently, to take investment decisions on an informed basis. This information mayshall be provided in a standardised format.
Amendment 576 #
Proposal for a directive
Article 24 – paragraph 5 – introductory part
Article 24 – paragraph 5 – introductory part
5. When the insurance intermediary or insurance undertaking informs the customer that insurance advice is provided on an independent basis, the insurance intermediary or insurance undertaking shall:
Amendment 584 #
Proposal for a directive
Article 24 – paragraph 5 – point a
Article 24 – paragraph 5 – point a
(a) assess a sufficiently large number 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 612 #
Proposal for a directive
Article 25 – paragraph 2 – subparagraph 1
Article 25 – paragraph 2 – subparagraph 1
Member States shall ensure that insurance intermediaries and insurance undertakings, when carrying on insurance mediation in relation to sales where no advice is given, ask the customer or potential customer to provide information regarding the customer's or potential customer's knowledge and experience in the investment field relevant to the specific type of product or service offered or demanded so as to enable the insurance intermediary or insurance undertaking to assess whether the insurance service or product envisaged is appropriate for the customer.
Amendment 622 #
Proposal for a directive
Article 25 – paragraph 4
Article 25 – paragraph 4
4. The customer must receive from the insurance intermediary or insurance undertaking adequate reports on the service provided to its customers. These reports shall include periodic communications to customers, taking into account the type and the complexity of insurance products involved and the nature of the service provided to the customer and shall include, where applicable, the costs associated with the transactions and services undertaken on behalf of the customer. When providing advice, tThe insurance intermediary or insurance undertaking shall specify how the advice given meets the personal characteristics of the customer.