Effective April 30, 2005, new minimum liability insurance requirements will go into effect in the European Union. The EC 785/2004 regulation is intended to standardize insurance requirements across the EU member states. If you fly into any of the EU member states, you will need to be aware of, and in compliance with, the new regulation as of April 30, 2005. Failure to comply could result in loss of license, prohibition of flights and possibly criminal prosecution.
For more information on the regulation’s requirements and the anticipated effects of the new regulation, check out the article here.