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News from the Working Parties
REINSURANCE WORKING PARTY
Reinsurance Working Party meeting held in Rome
The AIDA Reinsurance Working Party met in Rome on 24 May 2007. The meeting was chaired by the Working Party chairman, Colin Croly.
Report on Questionnaires
The meeting began with a brief update on the progress of the AIDA Reinsurance Working Party reports. The early reports are now out of date and need to be revised. Questionnaire No 7 on Intermediaries has been held up pending implementation of the European Union Directive. The report for Questionnaire No 8, Limitation Periods, has been prepared and circulated by Peggy Sharon. So far 14 countries have responded, and there was a promise for a response from the Netherlands. The reporter is still awaiting responses from Colombia, Italy and Spain. As for Questionnaire No 9 on Insolvency, only six responses have been received to date. Responses to the revised Qustionnaire No 1 are currently being sought and 6 responses have been received. Ozlem Gurses agreed to draft a revised Qustionnaire No 2, which will be circulated in due course.
Reports 4, 5 and 6
There was some discussion as to whether it remained necessary to publish reports in hard copy. The other options, including reproducing the reports on CD, will be investigated.
Insurance Law Reform in the UK and Australia
Rob Merkin (UK) and Michael Gill (Australia) outlined proposals for the reform of insurance law in the UK and Australia. Luis Pellon (Brazil) gave a short presentation on the new law on reinsurance in Brazil.
Reinsurance Directive
Jean Alisse (France), Rose-Marie Lundstrom (Sweden), Michael Rosenmejer (Denmark), Reinhard Dallmayr (Germany) and Rob Merkin (UK) all gave presentations on the implementation of the EU Reinsurance Directive in their respective jurisdictions.
Next Meeting
The next Reinsurance Working Party meeting took place on 20 September 2007 in Christchurch, New Zealand. The meeting featured the presentation “The HIH Experience - Reinsurance Issues Warts and all.” Speakers included Tim Griffiths, Partner at Home Wilkinson Lowry and Mark Norman, Head of Commutations & Dispute Resolution at Capita CMGL.
MOTOR INSURANCE WORKING PARTY
Motor Insurance Working Party meeting held in Rome
Following the AIDA Presidential Council meeting and the meeting dedicated to the constitution of AIDA Europe, the Motor Insurance Working Party held a meeting at the offices of the ISVAP, the Supervisory Authority on the Italian insurance market, on the afternoon of May 24, 2007.
The Chairman of the Group, Dr. Armando Zimolo, summarised the version of the study on Normative and Management Characteristics of Motor Third Party Liability in the World presented last October in Buenos Aires. For the meeting in Rome the study was updated with the legislative and market news of May 2007 and falling into line with the year 2005. The statistical data of different countries (194) is considered in the study, which is structured in 9 chapters with 50 tables of international comparison.
The aim of the M.I.W.G. Chairmanship is to now complete, in the years up to the XIII AIDA International Congress, the two in-depth studies on “Trends in compensation for non pecuniary losses” (on the evolution of compensation criteria regarding personal injuries), and “Protection of the victim” with particular attention to the safeguard provided by single legislation to weaker parties (minors, pedestrian, cyclists) who are exposed to motor accidents dangers. Another topic considered by the Working Group for an international comparison, is that of the extension and efficiency of the direct insurance system in order to have a quicker and fairer indemnity service for injured persons and to contain the cost of damages cutting down the legal expenses and consequently reducing the insurance cost.
Doctor Zimolo’s report concludes by pointing out the opportunity for the Working Group to be integrated with new members of different geographical areas, establishing a flexible organisational structure to implement contacts for the constant up-dating of information at international level.
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