TRANSFRONTIER INSURANCE SERVICES AS THE DIRECTION OF THE EUROPEAN COMMON MARKET DEVELOPMENT

The goal of this article is to present transfrontier insurance services as a tendency of unified European market development. Development of transfrontier services in insurance sector is connected with the common insurance market creating. Borders crossing of insurance services is connected with freedom of human capital flow or with freedom of services. It is one of the fields of European financial market integration. Homogeneous market of insurance services works on the rule of harmonization of legal acts concerning minimal requirements in scope of: unified insurance license, supervision by the country where insurance company is based, freedom of establishment in both insurance sectors, technical reserves requirements according to total institution’s assets, annual and consolidated reports requirements. Introducing reforms in European law and national laws helps to reveal insurance services in EU countries. The number of foreign insurants which will to operate basing on the freedom of services in Poland after EU accession in 2004 increased almost three times. In 2007 number of notifications gained 425 where 410 were from EU. In the meantime insurance companies seated in Poland engage more and more in transfrontier activity.