A Conservative MEP has repeated his call for the British government to be taken to the European Court of Justice over its failure to properly apply a directive concerning insurers' financial reserves.
A Conservative MEP has repeated his call for the British Government to be taken to the European Court of Justice over its failure to properly apply the CU Insurance Directive 238/73 in relation to Lloyd's of London.
The directive stipulates the level of financial reserves that insurance undertakings must have relative to their liabilities.
It is understood that the European Commission will take a decision on this case in the next few days.
Roy Perry MEP has been pressing this case all year, in response to a complaint made to the European Parliamentary Petitions Committee by several Lloyd's Names.
Perry said: "The Commission has by now had adequate time to make up its mind about infringement proceedings against the British Government's failure to properly apply the directive....
"A number of critical questions were put to the British government late last year and answers received early this year.
"To this day the British Government and the Commission have denied Parliament all access to the replies to those questions. The British Government appears to have something to hide and the Commission has a responsibility to uphold the EU rules.
"I believe the time has come for action. Clearly the responses were less than satisfactory otherwise the Petitioners would have been answered long ago.
"To my mind - and I am sure that of the majority of the Petitions Committee - there can be little doubt now that infringement proceedings must be taken against the British Government."
