Insurance watchdog calls for pan-EU policy protection

Published by
Reuters UK

LONDON (Reuters) – Harmonised insurance protection schemes of last resort are needed across the European Union as consumers increasingly buy policies from outside their country, the bloc’s insurance regulator said on Tuesday. Petra Hielkema, chair of the European Insurance and Occupational Pensions Authority (EIOPA), said cross-border premiums have been steadily increasing over the past five years compared to domestic premiums. It also means that consumers are buying policies without knowing who is ultimately responsible if things go wrong, she said. “Unfortunately we are seeing more cases, wi…

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