Issues arising from EU law on reorganization measures and winding-up proceedings of insurance undertakings

In light of the financial crisis EU rules governing the reorganization measures and windingup proceedings of insurance undertakings adequacy is likely to be tested; Principles of unity and universality have been introduced by Directive 2001/17 un­der which said measures or proceedings imposed on an Insurance Undertaking shall be subject to a single set of rules, however, in the absence of harmonization on EU level of memberstates legislations governing the above several issues arise.