(79)Following the regulatory developments in response to the global financial crisis, the experience gained since that crisis, and the application of this Directive, the Commission, after having consulted EIOPA, should submit a report to the European Parliament and to the Council assessing the appropriateness of minimum common standards for insurance guarantee schemes within the Union. That report should at least: assess the state of play of insurance guarantee schemes in Member States (coverage level, types of insurance covered, triggers); discuss policy options, including the different policy options, such as using insurance guarantee schemes to continue or to liquidate insurance policies, thereby taking due account of the differences in insurance products in various Member States; assess the necessity of introducing and, where appropriate, outline the steps necessary to introduce a minimum baseline for insurance guarantee schemes across the Union. The report should be accompanied by a legislative proposal where appropriate.