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COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(78)736final
Brussels,19December197$
RECOMMANDATION FORACOUNCILDECISION
concerning "thepositionoftheCommunitywithintheOrganisationfor
EconomicCo-operationandDevelopmentonadraftrecommendation con­
cerninginstitutionalco-operationbetweenauthoritiesofmembercountriesofO0CDresponsibleforsupervisionofprivateinsurance
(presentedbytheCommission ,totheCouncil)
.r-::V:.,/-λ ·/'V"*■* <ν-,->ν Ψ\π' ι^>ν"/
VC*'X^.;.,V.V
Ca;(78)736final

Recommendation foraCouncilItecisionconcerning 1thepositionof
theCommunitywithintheOrganisation forEconomicCo-operation
andDevelopment onadraftrecommendation concerninginstitutional
oo-operation betweenauthoritiesofmembercountriesresponsible
forsupervisionofprivateinsurance
Obieotiveandbackground
HieInsuranoeCommitteeoftheOrganisation forEconomicCo-operation
andDevelopment (OECD)hasformanyyearsdevoteditselftoachieving
freedomofinsurancetransactions amongitsmembercountries.
Itappearedtosomeofthesecountriesthatthedevelopmentofasystem
ofoo-oparation betweenthesupervisoryauthoritiesofthesecountries
wasindispensableiffurtherprogresswastobemadeinthatdirection.
SeveraldraftshavebeenexaminedbytheInsuranceCommittee,thelast
onehavingbeendrawnupbyalimitedworkingpairtycomposedofrepre­
sentativesofFrance,AustriaandSpain.Thetextproducedbythis
workingpartyisannexed;itwasexaminedbytheInsuranceCommittee
on17and18May1977#I"ttakestheformofadraftrecommendation ,
whichhasstilltobesubmittedtotheOECDCouncil,,andonwhichthe
Communitymustadoptaposition.
ContentsoftheOECDdraftrecommendation
Therecommendation urgesthemembercountriesoftheOECD
(1)torequiretheresponsibleauthoritiestoexchangeinformationof
ageneralcharacterrelating,interalia,tonationalprevisions
relevanttothesupervisionofthesolvencyofconoerns,
(2)toconclude "bilateralconventionswithaviewtoenablingthose
authoritiestoexchangeinformationandtolendon©another
assistance.

Amodelbilateralconventioniscontainedintherecowraendation .It
•providesforaminimaldegree-ofoo-op©rationasregardaexohangeof
information andreciprocalassistance.Italsospecificsthat'"Bie-
rulesastosecrecytowhichtheauthoritiesoftheContractingStates
aresubjectshallnotimpedeco-operation ,betweensuohauthorities and
reoiprooalassistanceasprovidedforinthepresentConvention,"and
"TSieinformation exchangedmaybeusedbythoseauthoritiessolelyfor.
carryingouttheirtaskofsupervision."(Article4(l))»
III.RoleoftheCommunityasregardsthisdraftrecommendation
Theimportanceofthisrecommendation fortheCommunitymustbe
appraisedinthelightofthecoordination oflawsachievedbyappli­
cationoftheCouncilDirectiveof24July1973(OJL228of16August
1973)andbyreferencetothefollowingconsiderations :
-Collaboration betweensupervisoryauthoritiesisprovidedforinthe
directiveonco-ordination ofliabilityinsuranceof24July1973as
anessentialcomponentoftheco-ordination ,whichisthusnotlimited
toaharmonization ofthesubstantive law.Inparticular ,theyhave
theobligationofgrantingauthorization tothebranchesofunder­
takingshavingtheirheadofficeinanotherMemberStatewhichsatisfy
therequirements ofthedirective.
-Thisdireotiveexpresslystipulatesthat"TheCommissionandthecom­
petentauthoritiesoftheMemberStatesshallcollaboratecloselyfor
thepurposeoffacilitating thesupervisionofdirectinsurancewithin
theCommunity..."(Article33).
-Branchesofundertakingsofnon-memberStatesarecoveredbythe
direotive,whichsubjectsthemtoprecisesubstantiverules.Forthis
reason,theymustfurnishinformationanddocumentsemanatingfromthe
supervisoryauthoritiesofnon-membercountries.
-Collaboration betweenasupervisoryauthorityofaMemberStateand
thesupervisoryauthorityofanon-memberStatemaythusbesuohas
tofaoilitatetheimplementation ofthisCommunitydireotive.

-3-
Asregardstheapplicationoftherecommendation totheconclusionofa
conventionwithanon-Community MemberStateoftheOECD,forexample
followingaproposalmadeToythatStateorarequestpresentedlayone
ormoreMemberStates,theCommissionwillsubmitappropriate recom­
mendationswithaviewtoopeningnegotiations withsuchthirdcountry
orcountries.
TheCommissionconsiders,inthisconnection,thattheremaybecases
whereitwillnotbenecessary,atleastatafirststage,toextendthe
co-operation totheauthoritiesofalltheMemberStatesoftheCommunity,
forexamplewheretheactivities,withintheCommunity,ofanotherState
ortheactivitiesofCommunity-based enterpriseswithinthatStatedonot,
atthatstage,affectalltheMemberStates.
TheCommissionwilltakeaccountofsuch.casesinitsrecommendations to
theCounoil,sothatsuchrecommendations may,a3thecaserequires,
providethattheauthorities ofcertainMemberStatesarenotincluded
intheagreement,orindeedthatnegotiations shalltakeplacebetween
aMemberStateandthenon–MemberStateconcerned,
•HieCommissionconsiders,finally,thatItisintheinterestofthe
CommunitythatMemberStates,fortheirpart,adoptacommonposition
andalsogivetheirsupporttothisdraftOECDrecommendation .
IV,Conclusions
Inconclusion,theCommissionrecommendsthattheCouncilshoulddecides
1,thattheCommunityshallforitspartaccepttheOECDdraftrecom­
mendationconcerninginstitutional co-operation betweenauthorities
ofmembercountriesresponsibleforsupervisionofprivateinsurance;
2,thatforthispurposetheCommission,inthenameoftheCommunity,
shallmakethefollowingdeclarationtotheOECDt"TheEuropeanEconomic
Communityapprovestherecommendation concerninginstitutionalco-operation
betweenauthoritiesofmembercountriesresponsibleforsupervisionof
privateinsurance.Asregardsmorsparticularlytheconclusionof
bilateralconventionsenvisagedinpoint2oftherecommendation ,the
Communityisreadytoengageinappropriatenegotiationswithother
MemberStatesoftheOECDwhosodesire,"

ANNEX
1RECOMMENDATION OFTHECOUNCIL
CONCERNING
INSTITUTIONAL CO-OPERATION BETWEENAUTHORITIES
OPMEMBERCOUNTRIES RESPONSIBLE FORSUPERVISION
OFPRIVATEINSURANCE
TheCouncil,
HAVINGREGARDTOArticle5(b)"theConvention (ontheOrganisationfor
EoonomicCo-operation andDevelopmentof14thDecember,i960);
HAVINGREGARDTOtheReportbytheInsuranceCommitteeof...••••••on
co-operation "betweenauthoritiesofMembercountriesresponsiblefor
supervisionofprivateinsurance,and,inparticular ,toparagraph3
thereof;
RECOMMENDS Membercountries :
(1)torequiretheiradministrativeauthoritiesresponsibleforsuper­
visionofprivateinsurance,whenevertheyreceivearequestfrom
anothersupervisoryauthorityofaMembercountry,toexchange
directlybetweenthemselvesinformationofageneralcharacterre­
lating,interalia,tolegislative ,regulatoryandadministrative
requirementsinthefieldofinsurance,inordertopermitof
comparisonsbetweencountriessuchasmightpromote,asapplicable,
voluntaryalignmentsoftherelevantnationalprovisions;
(2)toconclude,inthelightofthedevelopmentsoftheireconomic
relationsintheinsuranoesector,bilateralconventions,inaccordance
withtheattachedmodel,inordertoexeroisetheirfunctionofsuper­
visionandtolendoneanotherassistancereciprocally.

MOIELCONVENTIOTT
Preambule
States(A)and(B),
Beingdesirousoffacilitating theoperationsofinsuranceconcerns
oarryingon"businessintheircountriesandofstrengthening asmuch
aspossibletheproteotionofpolicy-holders andbeneficiaries under
contractsofinsurance ;
Consideringthatforsuchpurposeitisessentialtoincreasethemeans
ofobtaininginformation whichareavailabletosupervisoryauthorities
inorderthattheymay,throughbetterknowledgeoftheoverallsituation
ofaconcernundertakinginsuranceintheircountries,exercisetheir
functionwiththemaximumeffectiveness ;
HaveagreedtoconcludethepresentConventionconcerningco-operation
andreciprocalassistanceinthefieldofsupervisionofprivateinsurance
ooncerns.
Article1
GeneralProvisions
1.Co-operationandreciprocalassistanceasprovidedforinthefollowing
provisionsrelatetodirectinsurance,
2.1&eadministrative authoritiesresponsibleforco-operation and
reciprocalassistanceares
-in(StateA):•••••#••
-in(StateB)!••••••••
Thesaidadministrative authoritiesareinthefollowingArticlestermed
"authorities"#

-3-
Article2
Exchangeofinformation
1.TheauthoritiesoftheContractingStatesundertaketogiveeachother
suchinformationastheyneedfortheexerciseoftheirfunction,andin
particularfortheexerciseofsupervisionofprivateinsuranceconcerns.
2.Theforegoingprovisionsshallneitherentitletheauthoritiesofthe
ContractingStatestorequestnorobligethemtogiveinformation which
theyarenotentitledtoobtainundertheirnationallaw.
Article3
ReciprocalAssistance
1.TheauthoritiesoftheContractingStatesshallreciprocally lendeach
otherassistanceinordertofacilitateasfaraspossibletheapplication
ofeachState'sownlawrelatingtosupervisionofinsuranceconcerns.
2.Shouldthesituationofaconcerncarryingoninsurancebusinessinthe
ContractingStatesbesuchthatitisexpedienttotakemeasuresto
safeguardtheinterestsofitspolicy-holders ,theauthorities may
consulttogetherwithaviewtotaking,ifpossiblebymutualagreement,
appropriate measuresinaccordancewiththeirnationallaw-
Article4
Secrecy
1.TherulesastosecrecytowhichtheauthoritiesoftheContractingStates
aresubjectshallnotimpedeco-operation betweensuchauthorities and
reciprocalassistanceasprovidedforinthepresentConvention.
2«Nevertheless ,anyrequestforinformation ,anyinformationprovidedor
anyconsultationshallbekeptsecretinrelationtothirdparties,unless
theauthoritiesconcerneddecidebymutualagreementthatitisnotof
aconfidential character.
./■

-4-
3.Theprovisions ofArticles 2and3mayinnocase beconstrued as
obliging aContracting State tocommunicate anyinformation which
would reveal acommercial secret oftheconcern inquestion ,orany
information thecommunication ofwhich would becontrary topublic
policy ("ordre public ").
Article 5
Application oftheConvention
1.Forthepurpose ofapplying thepresent Convention ,theauthorities of
theContracting States shall communicate directly between themselves .
2.Iforalexchanges ofviews Bhould appear likely tofacilitate theap­
plication oftheConvention ,thenBuchexchanges ofviews maytakeplace
inaCommission oomposed ofrepresentatives oftheauthorities
Final provisions
(Provisions conoerningi ratification ,entry intoforce ,termination of
theConvention ),