EU Insurers Back Proposals For More Cross-Border Oversight

Law360, London (June 8, 2021, 5:58 PM BST) -- European Insurers have come out in support of European Union plans to give the bloc's insurance regulator more oversight over cross-border activities when supervising member states, while at the same time cautioning against overreach.

Insurance Europe on Monday said initiatives to boost powers for the European Insurance and Occupational Pensions Authority and give it more oversight made sense when dealing with insurers working across borders, but it added there is "no need for any further significant changes at this stage."

The trade body made the remarks in response to a May 2021 consultation by the European Commission on supervisory convergence for EU financial services,...

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