On 2 November 2018, the Dutch Minister of Finance (the Minister) sent a letter to the Dutch Senate (Eerste Kamer) containing answers to questions that were raised in relation to the draft legislative proposal of the Act on the recovery and settlement of insurers (Wet herstel en afwikkeling van verzekeraars, the Proposed Act).

Amongst other things, the following topics were covered in the letter:

  • the reasons for not implementing an insurance guarantee scheme to protect insurers against the risk that claims will not be paid if their insurer becomes insolvent; and
  • in case of intervention by the Dutch Central Bank (De Nederlandsche Bank, DNB), insurers which are also listed companies are only permitted to delay public disclosure of inside information in the situations as mentioned under Article 17 (4) of the Market Abuse Regulation (Verordening Marktmisbruik, MAR), and not which are mentioned in Article 17 (5) of the MAR.

View the Proposed Act (Dutch only), 2 November 2018.