Shortly after our report in the last issue of BLG Aviation News on the proposals put forward by the European Commission for mandatory aviation insurance, the European Parliament voted on their Transport Committee’s report. We now outline subsequent developments.
At the first reading on 13 May 2003 the European Parliament made further minor amendments to the proposals of its Transport Committee but did not alter the Committee’s proposals for levels of mandatory third party cover. The result was significant changes to the original Commission draft regulation, including a considerable reduction in minimum levels of third party liability cover. This came at the end of a period of significant activity by European institutions including the Economic and Social Committee, the Committee on Legal Affairs and the Internal Market, and the Council Aviation Working Party, each suggesting further changes.
