Regulatory Alerts2019-05-13
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Commission Delegated Regulation (EU) 2019/1935 adapting base euro amounts for professional indemnity insurance and financial capacity of intermediaries
The European Commission amends Directive (EU) 2016/97 to update the base euro amounts for professional indemnity insurance and financial capacity of insurance and reinsurance intermediaries by 4.03%, reflecting changes in the European index of consumer prices. The revised minimum professional indemnity insurance coverage is set at EUR 1,300,380 per claim and EUR 1,924,560 in aggregate per year, while the required financial capacity is adjusted to a minimum of EUR 19,510. This Regulation enters into force on the twentieth day following its publication in the Official Journal and applies from 12 June 2020.
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