6533b7dbfe1ef96bd12708a5

RESEARCH PRODUCT

Insurance Supervisory Law and Consumer Protection

Meinrad Dreher

subject

Insurance BeneficiarySolvencyActuarial scienceLawInsurance policyInsurance lawCasualty insuranceBusinessLiability insuranceConsumer protectionDirective

description

This chapter discusses the relationship between insurance supervisory law and consumer protection within the ambit of Solvency II and the EIOPA system. To this, the article focuses on existing laws, with particular regard given to European rules on insurance supervision. The Solvency II Directive takes as its exclusive objective the protection of insureds and insurance beneficiaries. Solvency II does not address consumer protection. Nevertheless, consumer protection is a significant by-product of the Solvency II rules, in the sense of collective consumer protection. The EIOPA Regulation provisions, too, address consumer protection solely in the realm of collective consumer protection. The applicable profile is that of the mature and discerning consumer. The consumer protection guidelines of EIOPA on handling of complaints have no legal basis in the EIOPA Regulation.

yearjournalcountryeditionlanguage
2015-01-01
https://doi.org/10.1007/978-3-662-46290-4_3