"Lloyd's" petitions on the implementation of the Directive 73/239/EEC

The European Parliament adopted a resolution with 358 votes in favour, 0 against and 35 abstentions. The resolution was based on the own-initiative report drafted by Roy PERRY (EPP-ED, UK) on Lloyd's petitions. (Please refer to the summary of 21/05/03.) Parliament emphasised that the responsibilities for any failure in the correct application and implementation of Directive 73/239/EEC lie with the Commission and the UK authorities, and not with Lloyd's as a regulator, nor with individual members of Lloyd's "Names", who constitute the Lloyd's market which insures risk.�