20 December 2010

The Audit Committee of the Polish Insurance Association accepted the resolution condemning the efforts to change the functioning formula of the insurance self-government. The resolution was accepted unanimously. Nine out of eleven members of the Committee were against the changes, one abstained from voting and one was absent.

The Committee expressed its discontent and protested against the efforts to undermine the present legal formula of the activity of the insurance economic self-government without the approval of the statutory organs of the self-government and any consultations with a representative part of the insurance market.

The Committee was expressly for retaining of the present legal formula of the insurance self-government which, according to the Committee, ensures integrity, representativeness and coherence in activities of PIU which is  a representative of insurance companies.

Almost two years ago, a serious and profound discussion emerged among the insurance community and it concerned the functioning formula of its self-government, its structure and the character of membership. The discussion resulted in the present condition and form of PIU functioning which was agreed by the General Meeting of the Association in 2008.

Today the President of the Board of the Polish Insurance Association forwarded the resolution of the Audit Committee of PIU to the Minister of Finances.