In-depth examination of insurance against natural catastrophes, announces Barnier

By Ina Dimireva

The Commission is to carry out an in-depth examination of insurance schemes covering national catastrophes, in particular flooding, announced Michel Barnier, European Commissioner for Internal Market and Services, on Tuesday at the European Parliament in Strasbourg.

In response to a question in the European Parliament, regarding the "inability of the market to provide adequate cover" against flooding in certain Member States, Internal Market Commissioner Barnier said that in-depth examination of insurance schemes should be introduced. MEP Kelly's question follows very severe flooding in Ireland and the United Kingdom in November and December. It also comes shortly after violent floods caused by the Xynthia storm most notably caused the deaths of more than 50 people in France on 26 and 27 February.

The initiative will involve a broad range of stakeholders and dialogue with Member States and insurance experts to exchange examples of best practice and to fix priorities at an appropriate level. The Commission will discuss the results of this dialogue with Member States, insurance experts and other interested parties at its conference in 2011.

As Special Advisor to Commission President José Manuel Barroso, in May 2006, Michel Barnier also presented a report proposing the creation of European civil protection force.