Estonia: Insurance Laws and Products

On 10 February the Riigikogu adopted the State Export Guarantees Amendment Act. The amendments increased the state guarantee limit amount and specified the provisions regulating investment guarantees.

On 25 November 2004, the Riigikogu adopted the Credit Institutions Act Amendment Act. Once again, European Union law required the changes. These changes bring increased regulatory detail, particularly regarding activity licences and the acquisition of a qualifying holding.

On 8 December 2004, the Riigikogu adopted a new Insurance Activities Act.Once again, accession required the new law, as the regulation of insurance activity, insurance intermediation, and supervision thereof is covered by European Union directives.