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Motor insurance directive | |
Motor insurance is of considerable importance for European citizens. The European motor market is the largest in the world, with more than 315 million vehicles in use (CEA
- 2007). Motor insurance represents almost 30% of total non-life premium income
and, together with accident and health, is one of the largest non-life business
lines in
Europe (CEA - 2009).
The VI Motor Insurance Directive (recast of previous EU Legislation) brings about a strengthening of the existing
guarantees for the protection of consumers in Member States, whether they are policyholders or injured parties of an accident.
The compulsory minimum amounts of cover for motor insurance as laid down in the VI Motor insurance Directive (and adjusted
on 9.12.2010), are as follows:
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in case of personal injury, €1,120,000 per victim or €5,600,000 per claim, whatever the number of victims;
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in case of damage to property, €1,120,000 per claim, whatever the number of victims.
Such guarantees must be applied by insurance companies within 11.06.2012. Up
to that date, they must be equal at least to half of the levels provided for by
the Directive. Member States are in any case free to prescribe minimum amounts
higher than those quoted above.
European authorities and insurance organisations created a system for protecting
victims of road traffic accidents caused by non-residents: the Green Card system in
Europe
was the first to be established (1949) and is currently joined by more than 40
countries. | |
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 If you have an accident involving a foreign counterpart, you need to complete the European Accident Statement or collect as much information
as possible about the other vehicle’s owner, manufacturer, driver, etc. You might
consider contacting the police if multiple parties are involved or if one party
is injured.
If you are the victim of an accident occurred in your country and caused by a foreign driver from one of the countries of the Green Card system,
you should refer to your national insurers' Bureau for compensation.
If you are the victim of an accident occurred abroad, you will be compensated in your own country by the Claims Representative of
the foreign insurer, according to the provision of the IV Motor Insurance Directive
(2000/26/EC). You can refer to your national Information Centre for detailed information.
Please bear in mind that, as a general rule, the law of the country in which
the accident occurs will apply (lex loci): your claim for compensation might be indeed handled differently from how it
would be in your country of residence.
A comprehensive overview of EU Motor insurance legislation is available on the European Commission's website. A detailed explanation on cross-border claims can be found on the ad-hoc portal created by Insurance Europe (previously known as CEA).
To learn more about the EU strategies to reduce car accidents:
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last update on 01-03-2012 10:15
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Focus
2010 Sustainability Report
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