Tag Archives : Block Exemption Regulation (BER)

Letter from Brussels

The passage of European legislation is not fast moving – but at the same time it requires consistent attention to get the views of FERMA’s members to the right people at the right time.
For example, we are waiting for the results of interviews that Ernst & Young are currently conducting on behalf of the European Commission on reinsurance pools and the subscription market. This is part of the Commission’s review of the insurance block exemption regulation (BER), the current version of which is not due to expire until 2017.
More advanced in its progress is the revised Insurance Mediation Directive (IMD) where we are working on a position paper, since the evidence so far is that the Commission does not want to have large risks or professional insurance buyers covered by its provisions. Continue reading