Ceiops identifies supervisory differences

Some regulators in Europe have adopted additional supervisory and sanctioning powers in their application of EC insurance and reinsurance directives. According to a new analysis of existing powers of supervisory authorities in EU member states, Ceiops said while there is a significant level of harmonisation between supervisors for the powers defined in the insurance directives, there is less harmonisation in the application of additional powers given to some national supervisors in the country’s transposition of the directives.