EIOPA calls for paradigm shift in consumer protection

The European Insurance and Occupational Pensions Authority (EIOPA) is
calling today for a paradigm shift in the area of Consumer Protection.
EIOPA's Chairman, Gabriel Bernardino, said at the Authority's first
Consumer Strategy Day in Frankfurt today: "We need to question the
strategy and policy tools that we traditionally use to address information
asymmetries, conflict of interest and market inefficiencies to protect the
rights of policyholders, pension scheme members and beneficiaries."
Participants of the Consumer Strategy Day exchanged views at the three
panel discussions addressing issues such as "fostering protection of
policyholders and pension fund beneficiaries", "tackling new or
innovative financial activities", and "anti-discrimination and
assessment of risk". The event was attended by around 130
representatives of consumer associations, insurance companies as well as
supervisory authorities.
Please read the press release from EIOPA's first Consumer Strategy Day.
Press Release (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/pressreleases/Consumer-Strategy-Day.pdf
)
Please read Chairman Gabriel Bernardino's opening speech. Speech
(Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/Press-Room/speeches/Consumer_Strategy_Day_Opening_Speech.pdf
)
Alternatively, please visit our press room (Link:
https://eiopa.europa.eu/press-room/index.html ).

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