Αναζήτηση

This papers reflects on recent turmoil created by derivatives used by energy companies and by UK pension funds, assessing some recent work of the European Supervisory Authorities, reports on EIOPA’s review of Credit Protection Insurance that unveiled poor underwriting and sales practices, as well as poor value for money from a consumer perspective, and contains a section on cyber risk, subject to increased warnings by supervisory authorities.

European consumers are protected against unfair terms in consumer contracts, including insurance contracts. However, this protection does not extend to terms setting out the essential elements of a contract, such as the extent of the risk covered and the amount of the insurance premium. Nevertheless, if the term under scrutiny is not drafted in 'plain, intelligible language', a court may proceed to evaluate its fairness. The Court of Justice of the EU clarified the concept of 'plain, intel-ligible ...

Inadequate consumer protection, especially in the U.S. mortgage market, not only led to considerable consumer detriment but was a major contributor to the global financial crisis. In the EU, mis-selling of financial products has also resulted in significant consumer harm. Considering the significant potential detriment that financial services can cause to individual consumers and to the Single Market, consumer protection policy needs to properly focus on this area. Improved transparency and better ...

EU Member States' export credit agencies (ECAs) play a vital role in fostering the domestic export industry by filling gaps in trade finance for non-marketable risks. ECAs provide government-backed medium and long-term export credits, guarantees and insurance.