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Credit and suretyship insurance

The Directive aims to provide additional financial guarantees for credit insurance and to abolish the provisions permitting Germany to prohibit suretyship insurance from being combined with other forms of insurance.


Council Directive 87/343/EEC of 22 June 1987 amending, as regards credit insurance and suretyship insurance, first Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance.


Removal of German specialization requirements.

Obligation on Member States to require of underwriters additional financial guarantees for credit insurance. This will be achieved by setting up an equalization reserve which will offset any technical deficit or above-average claims ratio arising for a particular financial year.

Obligation on insurance companies to increase their reserves within a set period of time as a result of these amendments.

Annex containing the four permitted methods of calculating the equalization reserve for credit insurance.


ActEntry into forceDeadline for transposition in the Member StatesOfficial Journal
Directive 87/343/EEC04.07.198701.01.1990OJ L 185 of 04.07.1987
Last updated: 06.07.2005
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