EC to decide on insurance guarantee schemes

Completion of a study into the patchwork of safety net schemes across Europe puts the ball back in the EC’s court

The European Commission is considering whether to introduce new policy changes that will require all member states to operate an insurance safety net scheme following the completion of a feasibility study by Oxera Consulting. While the report concluded that a single EU-wide insurance guarantee scheme “is unlikely to be feasible or politically acceptable”, it did highlight the potential for changes in just some areas of existing schemes that could “close some gaps” in consumer protection that currently arise from the substantial differences in national schemes without the need for a lengthy and detailed directive.