First Non-Life Insurance Directive

E554126

The First Non-Life Insurance Directive was an early European Community law that established foundational rules for the regulation and supervision of non-life (general) insurance business across member states.

All labels observed (2)

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf EU insurance law ⓘ
European Community directive ⓘ
non-life insurance directive ⓘ
adoptedBy Council of the European Communities ⓘ
aim to coordinate national rules on the taking up and pursuit of non-life insurance business ⓘ
to facilitate the freedom of establishment for non-life insurers within the Community ⓘ
to protect policyholders and beneficiaries ⓘ
appliesTo non-life insurance undertakings established in Member States of the European Economic Community ⓘ
bindingOn Member States of the European Economic Community ⓘ
establishes conditions for access to the non-life insurance business ⓘ
minimum harmonisation of prudential rules for non-life insurers ⓘ
requirements on technical reserves for non-life insurers ⓘ
rules on authorization of non-life insurance undertakings ⓘ
rules on supervision of non-life insurance undertakings ⓘ
solvency margin requirements for non-life insurers ⓘ
excludes life assurance ⓘ
reinsurance (subject to later legislation) ⓘ
followedBy Second Non-Life Insurance Directive ⓘ
Third Non-Life Insurance Directive ⓘ
formsPartOf European Union insurance directives framework ⓘ
goal to reduce disparities between national rules governing non-life insurance business ⓘ
to remove obstacles to the establishment of non-life insurers in other Member States ⓘ
harmonisationType minimum harmonisation ⓘ
implementationMethod transposition into national law by Member States ⓘ
influenced development of the single market for insurance services in the EU ⓘ
later EU solvency rules for non-life insurers ⓘ
jurisdiction European Community ⓘ
European Economic Community ⓘ
language adopted in multiple official languages of the European Communities ⓘ
legalBasis Treaty establishing the European Economic Community ⓘ
linked to: Treaty of Rome
officialName Council Directive 73/239/EEC ⓘ
policyArea consumer protection in insurance ⓘ
financial services regulation ⓘ
internal market ⓘ
regulatoryApproach home-country control principle (in embryonic form) ⓘ
requires ongoing supervision by the competent authorities of the home Member State ⓘ
prior official authorization for non-life insurance undertakings ⓘ
that non-life insurers have a minimum guarantee fund ⓘ
that non-life insurers limit their activities to insurance and operations directly arising therefrom ⓘ
that non-life insurers maintain adequate technical provisions ⓘ
sectorCovered general insurance undertakings ⓘ
non-life insurance undertakings ⓘ
subjectMatter freedom of establishment in insurance ⓘ
general insurance ⓘ
insurance supervision ⓘ
non-life insurance ⓘ

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Solvency II Directive → replaces → First Non-Life Insurance Directive ⓘ
Solvency II Directive → replaces → Second Non-Life Insurance Directive ⓘ
linked to: First Non-Life Insurance Directive
Directive 2009/138/EC → repeals → First Non-Life Insurance Directive ⓘ
First Life Insurance Directive → relatedTo → First Non-Life Insurance Directive ⓘ