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European Commission outlines access proposals.
(From Insurance Day)
Byline: Keith Nuthall
THE European Commission has made its formal offer at the World Trade Organization's (WTO) Doha Development Round to boost access to the EU insurance market to non-EU players, writes Keith Nuthall, Brussels. But following pressure from national European capitals, its services talks liberalisation package is hedged with a large number of exceptions protecting local interests. The proposals say the right of non-EU insurance companies to offer cross-border provision of financial services could be extended in a number of cases. For instance, there is a proposal to allow them to sell air transport policies in Austria. Another concession would scrap a rule preventing insurers from working in Sweden unless their founder was an EU resident. And in Finland, Brussels is prepared to negotiate away an insistence that foreign insurance company ...
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