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News in Brief.
(From Insurance Day)
Motor agreement
EUROPEAN competition ministers have agreed to up the minimum European insurance cover for personal injury and damage to property in car accidents after a political agreement on the proposed Fifth Motor Insurance Directive was reached. The proposal aims to improve European motor laws and if the draft law is passed at the second reading in the European Parliament, minimum cover for personal injury will rise to E1m ($1.2m) from E350,000. For damage to property it will also rise to E1m from E100,000, although this will not happen for five years. It was also agreed the motor insurance should cover personal injury sustained by pedestrians and cyclists. Internal market commissioner at the European Commission Frits Bolkestein said he hoped the draft would be endorsed: "The sooner this directive is adopted the sooner citizens will be able to take advantage of the new provisions in terms of faster treatment of claims and better compensation for victims of accidents."
Bank cover bill
THE lower house of Russia's parliament approved a bill on Friday on bank deposit insurance aimed at strengthening public confidence in the private banking system. The law will insure ...
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- Press release article from: M2 Presswire March 20, 2008 700+ words
...Markets: The UK Commercial Motor Insurance Market is Forecast to Reach...Developments in UK Commercial Motor Insurance 2007 to their offering...remains dominated by rising personal injury costs, though falling accident...market The UK commercial motor insurance market ...
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