First Non-Life Insurance Directive

E554126

EU insurance law European Community directive non-life insurance directive

The First Non-Life Insurance Directive was an early European Community law that established foundational rules for the regulation and supervision of non-life (general) insurance business across member states.

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Observed surface forms (1)

Surface form	Occurrences
Second Non-Life Insurance Directive	1

Statements (46)

Predicate	Object
instanceOf	EU insurance law ⓘ European Community directive ⓘ non-life insurance directive ⓘ
adoptedBy	Council of the European Communities NERFINISHED ⓘ
aim	to coordinate national rules on the taking up and pursuit of non-life insurance business ⓘ to facilitate the freedom of establishment for non-life insurers within the Community ⓘ to protect policyholders and beneficiaries ⓘ
appliesTo	non-life insurance undertakings established in Member States of the European Economic Community ⓘ
bindingOn	Member States of the European Economic Community NERFINISHED ⓘ
establishes	conditions for access to the non-life insurance business ⓘ minimum harmonisation of prudential rules for non-life insurers ⓘ requirements on technical reserves for non-life insurers ⓘ rules on authorization of non-life insurance undertakings ⓘ rules on supervision of non-life insurance undertakings ⓘ solvency margin requirements for non-life insurers ⓘ
excludes	life assurance ⓘ reinsurance (subject to later legislation) ⓘ
followedBy	Second Non-Life Insurance Directive NERFINISHED ⓘ Third Non-Life Insurance Directive NERFINISHED ⓘ
formsPartOf	European Union insurance directives framework ⓘ
goal	to reduce disparities between national rules governing non-life insurance business ⓘ to remove obstacles to the establishment of non-life insurers in other Member States ⓘ
harmonisationType	minimum harmonisation ⓘ
implementationMethod	transposition into national law by Member States ⓘ
influenced	development of the single market for insurance services in the EU ⓘ later EU solvency rules for non-life insurers ⓘ
jurisdiction	European Community NERFINISHED ⓘ European Economic Community NERFINISHED ⓘ
language	adopted in multiple official languages of the European Communities ⓘ
legalBasis	Treaty establishing the European Economic Community NERFINISHED ⓘ
officialName	Council Directive 73/239/EEC NERFINISHED ⓘ
policyArea	consumer protection in insurance ⓘ financial services regulation ⓘ internal market ⓘ
regulatoryApproach	home-country control principle (in embryonic form) ⓘ
requires	ongoing supervision by the competent authorities of the home Member State ⓘ prior official authorization for non-life insurance undertakings ⓘ that non-life insurers have a minimum guarantee fund ⓘ that non-life insurers limit their activities to insurance and operations directly arising therefrom ⓘ that non-life insurers maintain adequate technical provisions ⓘ
sectorCovered	general insurance undertakings ⓘ non-life insurance undertakings ⓘ
subjectMatter	freedom of establishment in insurance ⓘ general insurance ⓘ insurance supervision ⓘ non-life insurance ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Solvency II Directive → replaces → First Non-Life Insurance Directive ⓘ

this entity surface form: Second Non-Life Insurance Directive