Third Non-Life Insurance Directive
E559264
The Third Non-Life Insurance Directive was an EU legislative measure that harmonized rules for non-life (general) insurance business across member states before being superseded by the Solvency II regime.
Statements (32)
| Predicate | Object |
|---|---|
| instanceOf |
European Union directive
ⓘ
insurance regulation ⓘ |
| aim | harmonization of non-life insurance regulation across EU member states ⓘ |
| appliesTo |
EU member state insurance markets
ⓘ
general insurance business ⓘ non-life insurance ⓘ |
| basedOnPrinciple |
home state supervision
ⓘ
single passport for insurers ⓘ |
| concerns |
cross-border provision of non-life insurance services
ⓘ
establishment of branches of non-life insurers in other member states ⓘ |
| establishes |
home country control principle for non-life insurers
ⓘ
single license system for non-life insurers ⓘ |
| harmonizes |
guarantee fund requirements for non-life insurers
ⓘ
rules on technical provisions for non-life insurance ⓘ solvency margin requirements for non-life insurers ⓘ |
| intendedEffect |
enhanced competition in EU non-life insurance markets
ⓘ
increased consumer choice in non-life insurance products ⓘ removal of regulatory barriers to cross-border non-life insurance ⓘ |
| jurisdiction | European Union ⓘ |
| legalNature | binding legislative act of the European Union ⓘ |
| objective | completion of the single market for non-life insurance services ⓘ |
| policyArea |
financial services
ⓘ
insurance and pensions ⓘ |
| predecessorOf | Solvency II Directive NERFINISHED ⓘ |
| regulates |
authorization of non-life insurance undertakings
ⓘ
freedom of establishment for non-life insurers ⓘ freedom to provide services in non-life insurance ⓘ prudential supervision of non-life insurers ⓘ |
| requires |
cooperation between supervisory authorities of member states
ⓘ
mutual recognition of authorization among member states ⓘ |
| scope | non-life insurance classes as defined in EU law ⓘ |
| supersededBy | Solvency II regime NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.