Today the European Commission published sets of best practices for insurers, banks and non-bank lenders regarding relief measures offered to consumers and businesses as a result of the COVID-19 pandemic. Insurance Europe contributed to the development of the best practices for insurers. Insurance Europe’s director general, Michaela Koller, said:
“The insurance industry welcomed the European Commission’s work to facilitate a dialogue through roundtable meetings with consumers and businesses that resulted in the set of insurer best practices, which Insurance Europe endorses. The best practices very much reflect the initiatives and actions that insurers throughout Europe have already been taking — both individually and collectively — since the beginning of the COVID-19 pandemic to reduce its impact on their clients. Europe’s insurers will continue this dialogue with consumers, businesses and the Commission in the weeks to come.”
The first roundtable took place on 28 May and the second on 29 June. Both events had morning sessions that focussed on the banking sector and afternoon sessions that focussed on the insurance sector. More information on the best practices can be found here.