EU Insurers Push Regulatory Reforms To Benefit Customers

Law360, London (December 4, 2019, 11:57 AM GMT) -- European Union governments should ramp up their focus on protecting consumers in the insurance market by making regulations more consistent across the bloc and by consulting more widely with the sector, a leading industry lobby group said Wednesday.

Policymakers should conduct more research before enacting regulatory change, should spend more time consulting with the sector and should work on greater consistency in regulations across the bloc, Insurance Europe said.

“Unfortunately, EU financial services rules do not always achieve their aim of benefiting consumers, and the current regulatory processes themselves do not always lead to good outcomes,” the group said in a...

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