European Economic
and Social Committee
Insurance Europe
Summary of the initiative
Name
Insurance Europe
Website(s)
Objective(s)
To establish high standards of information for consumers both on the insurance undertaking and the products available, in order to develop confidence in this distribution technique and enable consumers to make their choice in full knowledge of the facts; To take all necessary steps for the requisite security of business both with regard to data confidentiality and payment of premiums; To guarantee compliance with fair commercial practices when using the Internet.
Description of the Initiative
Sector
Sector
Contact Point - Commission
MARKT E.2.
Self/Co-Regulation Basic Act
Self/Co-Regulation Basic Act
LEGISLATIVE ACT
Year
2000
Title of Act
Directive 2000/31/EC of the European Parliament and of the Council of 8 June 2000 on certain legal aspects of information society services, in particular electronic commerce, in the Internal Market (Directive on electronic commerce); Official Journal L 178, 17/07/2000, p. 1-16.
Review, Revision or Sunset Clause Year
2003
PRIVATE ACT
Year
2001
Title of Act
European Good Practice Guide for Insurance Business on the Internet
Geographical Coverage
Description
Description
Problems that lead to the introduction of Self/Co-Regulation and the adoption of the Founding Act
-
Target Group(s)
Internet Insurance Operators.
Type of Instrument(s)
Good Practice Guide.
Level(s) at which private rules should be defined and applied
Type of Financing
-
Type of Monitoring
| Conduct an initial survey of compliance capacity of future regulatees | Conduct regular visits and spot checks | Initiate complaints procedures | Maintain database of those bounded by the norms | Produce regular reports | Receive complaints and verify if norms were breached or not | Reflexive dialogue with the - stakeholders | Other | |
|---|---|---|---|---|---|---|---|---|
| European Commission | ||||||||
| National public authority | ||||||||
| International public authority | ||||||||
| Private regulator (code owner) | ||||||||
| Private independent party with a mandate (e.g. auditors) | ||||||||
| Self-appointed private parties (e.g. NGOs) |
Succinct description of the type of Monitoring
Insurance undertakers individually declare their decision to comply with the criteria laid down in the guide and indicate this commitment on the home page of their site by displaying a common label referring to the guide.
Type of Enforcement
| Faming, shaming and blaming | Judicial sanctions | Membership suspension/exclusion | Private fines | Other | |
|---|---|---|---|---|---|
| Private Regulator | |||||
| Private independent party with a mandate (e.g. auditors) | |||||
| Court system | |||||
| Alternative dispute resolution (ADR) / Online dispute resolution (ODR) |
Succinct description of the type of Enforcement
-
Results of Commission Monitoring
Link / Reference of Evaluation
-
Downloads
-
SMO self- and co-regulation database - private code 49