Reinsurance is a major financial activity as it allows direct insurance undertakings, by facilitating a wider distribution of risks at worldwide level, to have a higher underwriting capacity to engage in insurance business and provide insurance cover and also to reduce their capital costs; furthermore, reinsurance plays a fundamental role in financial stability, since it is an essential element in ensuring the financial soundness and the stability of direct insurance markets as well as the financial system as a whole, because it invo ...[+++]lves major financial intermediaries and institutional investors.

(4) Reinsurance is a major financial activity as it allows direct insurance undertakings, by facilitating a wider distribution of risks at worldwide level, to have a higher underwriting capacity to engage in insurance business and provide insurance cover and also to reduce their capital costs; furthermore reinsurance plays a fundamental role in financial stability, since it is an essential element to ensure the financial soundness and the stability of direct insurance markets as well as the financial system as a whole, because of its ...[+++] role of a major financial intermediary and institutional investor.

ABS or airbags are already standard on most cars while the share of other systems like electronic stability and GPS is constantly rising.

17. Notes that the delay in adapting the pensions systems in several Member States and the ever-increasing number of old people undermine the capacities of the insurance organisations to deal with the ever-increasing financial costs stemming from the above factors, especially in the health care and welfare sectors; considers nevertheless that the legal influx of immigrants with a relatively young average age and therefore with relatively limited recourse to social benefits may help in the short and medium term to alleviate the adverse effects on public funding of an ageing population; insists furthermore that the demographic challenges ...[+++] be assessed and recognised in the stability and convergence programmes as demanded in the Presidency Conclusions of the Barcelona European Council;

17. Notes that the delay in adapting the pensions systems in several Member States, the ever-increasing number of old people, as well as the large number of economic refugees entering the European Union and their families who have joined them who frequently engage in illegal work, undermine the capacities of the insurance organisations to deal with the ever-increasing financial costs stemming from the above factors, especially in the health care and welfare sectors; considers nevertheless that the legal influx of immigrants with a relatively young average age and therefore with relatively limited recourse to social benefits may help in ...[+++]the short and medium term to alleviate the adverse effects on public funding of an ageing population; insists furthermore that the demographic challenges be assessed and recognised in the stability and convergence programmes as demanded in the Presidency Conclusions of the Barcelona European Council;

The Bretton Woods and Related Agreements Act is amended in order to ensure adequate resources for the International Monetary Fund (IMF) to fulfill its mandate of preserving monetary stability.