On March 20th 2013, Sven Giegold MEP (Greens) and Olle Schmidt MEP (Liberals) invited to a working breakfast to discuss how we can benefit from the Scandinavian market structures and remuneration policies in insurance mediation, against the background of the recast of the the Insurance Mediation Directive (IMD II). We learnt from the interventions that insurances are effectively distributed in Denmark and Finland without commissions which tend to lead to misselling and bad advice to customers.
As speakers, Per Bremer Rasmussen, CEO of the Association of Danish Insurers, Christian Sandell, Senior Legal Advisor of the Association of Swedish Insurers, and Mari Pekonen-Ranta, Senior legal adviser of the Federation of Finnish Financial Services gave an introduction into the insurance systems in Denmark, Sweden and Finland.
The discussion reflected on the differences between the systems also leading to country specific requirements for legislation. Special issues arose regarding to the supply of insurance products, employment in the insurance sector, specifically in intermediation and the cost-effectiveness of insurances products. The recast of the directive aims at contributing to transparancy towards the client to avoid hidden costs and false consultations. Sven Giegold is shadow rapporteur on IMD II and initiated the event.
Please find the presentations of the participants below:
Representative of the Danish Insurers: http://bit.ly/ZPkryO
Representative of the Swedish Insurers: http://bit.ly/13qh5I0
Representative of the Finish Insurers: http://bit.ly/107LFyv