SOLVENCY MARGINS
March 1st, 2002
KEITH NUTHALLEUROPEAN Union ministers have approved a new 'solvency margin' directive that increases by 50 per cent the minimum financial reserves that must be retained by EU-registered insurance companies writing air travel industry policies, as these are deemed by Brussels as 'volatile-risk'. The aim is to promote confidence that all European insurers can cover the most unexpected of circumstances, encouraging the development of an EU insurance market by boosting the confidence of travel companies that any EU insurer will be able to pay out in an emergency. ...
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