§ Mr. Teddy Taylorasked the Secretary of State for Trade and Industry when a proposal to allow a free market in insurance was last considered by the Council of Ministers; and what was the decision then taken by the Council.
§ Mr. HowardA number of directives in the insurance field have already been approved by the Council of Ministers, the most recent being the tourist assistance directive approved on 10 December 1984. Generally, the effect of these directives has been to create a free market for reinsurance and freedom of establishment for both life and non-life insurers. Proposals for a non-life insurance services directive have been submitted by the Commission to the Council of Ministers, and were last considered on 10 December 1984. The Council agreed that discussion of the directive should be energetically pursued with the aim of reaching an early agreement, but discussion was subsequently suspended pending the outcome of the four insurance cases brought by the Commission before the European Court of Justice.
§ Mr. McCrindleasked the Secretary of State for Trade and Industry (1) what representations he has received from the banking institutions regarding the insurance salesmen registration proposals; what response he has made; and if he will make a statement;
(2) what representations he has received from the building societies regarding the insurance salesmen resgistration proposals; what reponse he has made; and if he will make a statement;
(3) what representations he has received from insurance companies regarding the insurance salesmen registration proposals; what response he has made; and if he will make a statement.
§ Mr. HowardI have received 31 representations, including those from building societies, banking institutions and insurance companies, in response to my request for comments on proposals by the Marketing Of Investment Board Organising Committee and the Securities and Investments Board contained in their240W document "The Financial Services Bill and the regulation of individuals". I am considering these representations and will make a statement shortly.