NORWAY & LIECHTENSTEIN
July 1st, 2004
BY KEITH NUTHALLNORWAY is being taken to the European Free Trade Area (EFTA) Court over consumer legislation that bans the sale of life assurance contracts within Norway, unless policyholders are charged an upfront fee covering all completion costs. The EFTA Surveillance Authority claims that this is illegal under European law, notably the third life assurance directive (92/96/EEC), which applies in Norway because it is a member of the European Union (EU)-linked European Economic Area (EEA). Norway says the law promotes transparency and competition amongst ...
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