On the Concept of Capacity of Exempted Insurance Institutions: Who’s Next?

Abstract:     
This paper is the case comment on the recent judgement (September 29, 2011) of the Court of Justice of the European Union in the case No C-82/10 concerning interpretation of life and non-life insurance directives. The importance of this judgment lies in the fact that the ECJ defined the concept of capacity of an insurance institution exempted from the supervisory scheme. This paper concentrates on critical review of the ECJ's controversial approach by defining above concept and provides brief insight in problem questions relating to selected existing exempted insurance activities.

Keywords: insurance, non-life insurance, non-life insurance directives, supervisory scheme, capacity, exempted insurance institutions, VHI, C-82/10

JEL Classification: K19, K23, K29, K39, K41, K42

Accepted Paper Series