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THE TRANSITION TO A SINGLE INSURANCE MARKET IN THE EUROPEAN UNION
Author(s) -
Ennsfellner Karl C.,
Dorfman Mark S.
Publication year - 1998
Publication title -
risk management and insurance review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.386
H-Index - 16
eISSN - 1540-6296
pISSN - 1098-1616
DOI - 10.1111/j.1540-6296.1998.tb00071.x
Subject(s) - european union , single market , license , business , economic policy , financial system , economics , actuarial science , political science , law
The European single insurance market incorporates the member stales of the European Union (EU). The legal framework for the market was enacted on June 30, 1994. The framework provides, above all, for a closely integrated supervisory (regulatory) system, a single license for the whole market and single home country control. Currently, some significant obstacles are slowing the realization of the European single insurance market, while several important economic policy and public interest questions remain to be answered.