Insurance Europe is appealing to EU legislators to keep product liability rules unchanged, sharing concerns that changes to the laws could hamstring insurers’ capabilities to insure “certain risks.”
On Monday, the association group told the European Commission that the bloc does not need to make any significant changes to the rules, Law360 reported. The group made its request in response to recent developments in the online and cybersecurity space.
“European insurers already deliver a broad range of insurance products and services for AI users and producers,” Insurance Europe said in a statement. “If the EU were to make substantial changes to the Product Liability Directive, it could make it difficult for insurers to continue to insure certain risks.”
Insurance Europe advised that changes to the directive should be avoided, so that insurers can continue making accurate risk calculations. The group also said that the directive should also stay restricted to personal injury and property damage “as other types of damage and harm are already compensable under existing legislation such as the Environmental Liability Directive and the General Data Protection Regulation.”
On the topic of introducing new rules to provide cover in the digital age, Insurance Europe said that there is currently no need for such things, as the group claims that there is no protection gap. The group added that there are enough insurance products available that offer adequate protection to customers.
