Zagreb Law Review, Vol. 2 No. 2, 2013.
Original scientific paper
Harmonisation of Regulations in the Field of Insurance and Reinsurance through the Solvency II Framework
Mladenka Grgić
; Postgraduate student in doctoral studies at the Faculty of Law of the University of Zagreb
Abstract
The paper presents and analyses the scope of harmonisation of the new legal framework in the field of insurance and reinsurance in the European Union. The main goal of the framework is to eliminate or reduce the legal disparities which still exist between the national laws of individual Member States. The transposition of the new Solvency II framework into the national legislations of the Member States responds to the persistent demand to create single regulation in the field of the insurance and reinsurance activity on the single insurance market of the European Union. Its main purpose is to eliminate the greatest and most serious existing disparities between the national laws of individual Member States. The main task of this paper is to research the requirements of the European legislator in terms of a planned level of alignment through the Solvency II framework and its implications on insurance companies. The results will be clarified with the help of specific fields which all together make up the Solvency II framework.
Keywords
insurance law; Lamfalussy process; European Union; legal instruments and alignment methodology; Solvency II Directive 2009/138/EC
Hrčak ID:
129504
URI
Publication date:
23.9.2013.
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