Press Release: Insurance and pensions: Commission acts to ensure correct implementation of EU law in Czech Republic, Finland, Germany, Hungary, Italy and Poland

The European Commission has taken action against six Member States to correct breaches of EU law on insurance and occupational pensions. The Commission will refer Italy to the European Court of Justice over Italian legislation requiring all insurers that are licensed to provide third party motor liability insurance in Italy to offer insurance for all categories of insured in all regions of Italy. The Commission will also refer Finland to the Court over Finnish legislation relating to transfer stickers and transfer insurance. The Commission will send a formal request to Germany to modify its rules on pre-contractual duties of insurers towards policyholders and the right of withdrawal from a life assurance contract. This request takes the form of a “reasoned opinion”, the second stage of the infringement procedure laid down in Article 226 of the EC Treaty. If there is no satisfactory reply within two months, the Commission may refer the matter to the European Court of Justice. Finally the Commission has decided to send the Czech Republic, Hungary and Poland formal requests to submit their observations on their transposition of a Directive on the activities and supervision of institutions for occupational retirement provision. The Commission's request takes the form of a letter of formal notice, the first stage of the infringement procedure under Article 226 of the EC Treaty. If, after reviewing the observations, the Commission considers that transposition of the Directive is incomplete, then the Commission may decide to send the Member States concerned a reasoned opinion requesting them formally to modify their legislation.