EU member states are now bound by the EC directive on the Reorganisation and Winding-up of Insurers, leading to predictions of seismic changes to the industry, writes Joe Bannister
June 04, 2003 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
The EC Directive on the Reorganisation and Winding-up of Insurers (WUD) (EC Directive 2001/17/EC) has now come into force. European Union member states, including the UK, were required to pass implementing legislation by 20 April this year.
Following extensive consultation, the Insurers (Reorganisation and Winding-up) Regulations 2003 were laid before Parliament on 15 April, becoming effective on 20 April.
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