Press Release: Commission to examine legal obstacles to cross-border trade in insurance

The European Commission is set to examine barriers to cross-border trade in insurance products caused by different contract laws in the EU’s Member States, after launching a call on 31 January 2013 for experts to look into the problem. The expert group will identify to what extent contract law differences hinder cross-border distribution and use of insurance by European businesses and consumers.

For example, a citizen moving to work in another EU country may be forced to take out a new car insurance policy, or face problems having their rights under a private pension plan recognised if taken out in another EU country. And businesses with branches in several EU countries may be forced to get separate policies under different conditions in each country instead of a single policy for all their property. The group will report at the end of 2013, after which the Commission will decide on any possible follow-up actions.