The Impact of the Solvency II Directive on the Insurance Sector in Europe
Abstract: Solvency of insurance companies, its conservation, regulation and control is the basis for the healthy functioning of the insurance market. Solvency is an indicator of stability and security of the companies, as well as the guarantor of execution of obligations. The Solvency II Directive was adopted on 25th of November 2009. She announced big changes in the insurance and reinsurance law, both EU member countries and non-member countries, when it comes to the solvency of the company. The main reason for the adoption of the new directive is strengthening of the integrated market in insurance and reinsurance law through harmonized legal rules. Solvency II aims at a common market, working permit in one member State allows the company carrying out activities in all other member countries. Also, during the implementation of the new directive the countries should have the same rights of protection of the insured. For both requirements is necessary that the supervision rules are agreed and converged all across Europe.
In this paper author analyzes influence of the Solvency II on EU member countries, and to non-EU countries, the state of security in Europe, as well as the extent to which some of the countries harmonized their legislation with the Directive.
Key words: solvency, the insured, insurance companies, EU, Solvency II.
Uticaj direktive solventnost II na sektor osiguranja u Evropi
Rezime: Solventnost osiguravajućih kompanija, njeno očuvanje, regulativa i kontrola predstavlja osnovu zdravog funkcionisanja tržišta osiguranja. Solventnost je pokazatelj stabilnosti i sigurnosti kompanije, kao i garant izvršenja dospelih obaveza. Direktiva Solventnost II je usvojena 25. novembra 2009. godine. Ona je najavila značajne promene u pravu osiguranja i reosiguranja, kako zemalja članica EU, tako i zemalja nečlanica, kada je u pitanju solventnost društva. Glavni razlog usvajanja nove direktive je jačanje jedinstvenog tržišta osiguranja i reosiguranja preko harmonizovanih zakonskih pravila radi veće zaštite osiguranika. Solventnost II cilja na zajedničko tržište, tj. dozvola za rad u jednoj državi članici dopušta društvu obavljanje delatnosti u svim drugim zemljama članicama. Takode, tokom implementacije nove direktive treba da važe ista prava zaštite osiguranika. Za oba zahteva je potrebno da propisi o nadzoru budu usaglašeni i konvergovani širom Evrope. U radu ce pre svega biti reči o uticaju koji je direktiva Solventnost II izvršila kako na zemlje članice, tako i na nečlanice EU, o stanju osiguranja u Evropi uopšte, kao i meri u kojoj su neke od zemalja uskladile svoje zakonodavstvo sa direktivom.
Ključne reči: solventnost, osiguranik, osiguravajuće kompanije, EU, Solventnost II.