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FREEDOM TO PROVIDE INSURANCE SERVICES ON THE INTERNAL MARKET OF THE EUROPEAN UNION IN THE LIGHT OF DIRECTIVE 2009/138/EC (SOLVENCY II)
Abstract
Freedom to provide insurance services in the European Union means the possibility of concluding, by an insurance undertaking established in one Member State, as a service provider, the insurance contracts in another Member States without having a permanent organizational unit (such as branch, agency, subsidiary or representative). The first purpose of the research is an indication of uncertainties and interpretational doubts, which may affect the use of freedom to provide services by insurance undertakings on the internal market of the EU. The second purpose of this study is to show the amendments that have occurred in the field of regulations of cross-border insurance services on the basis of directive 2009/138/EC (Solvency II directive; OJ L 335, 17.12.2009, p. 1) in comparison with the similar provisions contained in third-generation insurance directives. The scientific method that has been applied is based on the logical-language analysis of the legal text of the directive 2009/138/EC in the field relating to freedom to provide insurance services and on the comparative analysis of these provisions and the relevant provisions of second-generation and third-generation insurance directives. The results of the study lead, firstly, to a conclusion that the provision of cross-border insurance services is not free in the strict sense. The directive 2009/138/EC in this respect imposes numerous obligations on insurance undertakings. Secondly, through Solvency II directive there has been followed amendments of legal solutions little in terms of editorial, though significant from the semantic point of view. The analysis has also led to put numerous questions reflecting the interpretational doubts. The result of the attempt to answer these questions has become the formulation of de lege ferenda demands aimed to eliminate the interpretational doubts and to improve the functioning of the provisions concerning the insurance market as a part of the internal market of the European Union.
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