Regulatory harmonization in EC elusive, GAO reports. (European Community, General Accounting Office)

National Underwriter Property & Casualty-Risk & Benefits Management, August, 1993 by Brostoff, Steven

WASHINGTON -- The European Community may still have a long way to go before it achieves complete harmonization of insurance regulation, according to a new report from the U.S. General Accounting Office. While the EC has already adopted the key elements of its framework for insurance regulation, three sets of issues may require further attention, noted GAO in its report, requested by House Energy and Commerce Committee Chairman John D.

Dingell, D-Mich. Absence of harmonization in certain areas, GAO said, could undermine some of the objectives of a single European insurance market. According to the GAO report--number GGD-93-87: "European Community: Regulatory Issues in Creating a Single Insurance Market"--the first group of issues are those identified by EC...

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