Insurance watchdog warns EU not to postpone insurance regulations any further

The EIOPA, an insurance watchdog that is part of the European Union, has issued a warning to the EU governing body regarding the pace at which it is introducing new insurance regulations. The group, which is part of the European System of Financial Supervision, claims that any delays in enacting these regulations could create problems for insurers trying to adapt to the troubling economic times that have come to Europe. Delays could be possible due to the EU legislative process, according to the European Commission, the agency responsible for drafting…

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European insurance stops using gender to determine rates

According to the main insurers’ lobby in Europe, the CEA, a new regulation will be causing european insurance customers to have to pay up to 30 percent more for their coverage. The regulation stops insurance companies from being able to charge different rates for men and women, and it will come into effect in 2012. On average, women will face the largest increases. According to the CEA, which was discussing the findings of research commissioned by the GDV, a German insurance industry association, women will on average be paying 30…

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