The Progressive Alliance of Socialists and Democrats (S&D) will vote in favour of amendments at the Economic and Financial Committee of the European Parliament (ECON)   on Monday 16 October calling the European Commission to postpone the application date of the Insurance Directive to 1 October 2018 instead of 23 February 2018 as already decided by the EC.

The amendment has been tabled by the EPP German Rapporteur Werner Langen following the intervention of Maltese MEP Alfred Sant with the European Commission on behalf of ‘The Malta Insurance Association’.

Sant asked EC Vice President Valdis Dombrovskis to reconsider the application of a one-year delay for the implementation of the Insurance Distribution Directive as requested by the Maltese industry. Sant stressed the lack of time for the correct implementation of the Insurance Legislation. The 23 February 2018 deadline badly hit insurance operators in small EU states, including Malta, Sant told the EC.