Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies (NYSE: MMC), today published Recent Legislative and Judicial Trends in Continental Europe Affecting the Casualty Insurance Industry. The report, the third in a bi-annual series, produced in conjunction with the international law firm DLA Piper, provides a concise overview of key trends in the legal environment that are impacting or are expected to impact insurers and reinsurers covering legal liability risks in Continental Europe.
"The primary theme of this latest set of reports is the transposition of the new EU Environmental Liability Insurance Directive into the local law of each country," said David Lewin, Managing Director with responsibility for general liability lines within Guy Carpenter's International Casualty Specialty Practice. "Most of the EU territories on which we focus our review either failed to meet the deadline for the transposition of this law or have not yet submitted their draft local law for parliamentary approval."
Mr. Lewin added, "We are also seeing differences in the way the directive is being transposed in the various countries. Insurers and reinsurers will need to be alert to these developments."
The report covers a number of major markets in Continental Europe, including Austria, Belgium, France, Germany, Italy, the Netherlands, Spain, Sweden and Switzerland. Guy Carpenter worked closely with the local Continental European offices of DLA Piper to highlight the legislative and judicial issues of greatest importance and impact on the casualty insurance and reinsurance industry in each territory from May-September 2007.
A copy of the full report is available for download at www.guycarp.com. For printed copies, please contact Guy Carpenter at marketing@guycarp.com.
Guy Carpenter & Company, LLC is the world's leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies. Guy Carpenter creates and executes reinsurance and risk management solutions for clients worldwide through 2,600 professionals across the globe. The firm's full breadth of services includes 16 centers of excellence in Accident & Health, Agriculture, Alternative Risk Transfer, Environmental, General Casualty, Investment Banking*, Life & Annuity, Marine & Energy, Professional Liability, Program Manager Solutions, Property, Retrocessional, Structured Risk, Surety, Terror Risk, and Workers Compensation. In addition, Guy Carpenter's Instrat® unit utilizes industry-leading quantitative skills and modelling tools that optimize the reinsurance decision-making process and help make the firm's clients more successful. Guy Carpenter's website address is www.guycarp.com.
*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Advice on securities or investments in the European Union is provided through GC Securities Ltd., regulated by the Financial Services Authority for the conduct of investment business in the United Kingdom. Reinsurance products are placed through qualified affiliates of Guy Carpenter. MMC Securities Corp., GC Securities Ltd. and Guy Carpenter are affiliates owned by Marsh & McLennan Companies.
