Summary of latest interesting insurance issues (December 2016)
Autor: Agnieszka Wesołowska
On 9 December 2016 the Financial Ombudsman addressed to the First President of the Supreme Court a request for adoption of a resolution on determining liability of an insurance company in case of damages caused with the participation of dogs belonging to farmers holding the mandatory third party liability insurance.
The Ministry of Justice established a working group to prepare a plan for necessary actions to be taken by the state authorities against the serious accusations concerning the sales of unit-linked insurance. The group is the result of the meeting devoted to these products, which took place on December 8, 2016 at the Ministry premises. The meeting was attended by representatives of the association of policyholders of such products “Attached to the policy” (initiator of the meeting), the Ministry of Justice, the Ministry of Finance, the National Prosecutor's Office, the Office for Competition and Consumer Protection, the Financial Ombudsman, and the Polish Financial Supervision Authority.
At its meeting on 6 December 2016 the Polish Financial Supervision Authority (KNF) adopted the "Position of the KNF on the dividend policy of banks, insurance and reinsurance companies, pension funds, brokerage houses and investment fund companies in 2017".
On 15 December 2016 EIOPA published “2016 EIOPA Insurance Stress Test Report”.
On 8 December 2016 Regulation of the Council of Ministers of 1 December 2016 on the amount of contributions paid by insurance companies for the Insurance Guarantee Fund and time limits of payment thereof was published. The Regulation entered into force on 23 December 2016.
On 15 December 2016 Regulation of the Minister of Development and Finance of 9 December 2016 on the audit of the report on the solvency and financial condition of insurance companies and reinsurance companies by entities authorized to audit financial statements was published. The Regulation entered into force on 23 December 2016.
The Supreme Court in its judgment of 1 December 2016 (ref. no. I PK 241/15) ruled that an employer terminating a fixed term employment contract before its expiry date is not obliged to give any reason.
The Ministry of Development withdrew the proposal to amend the Labour Code by enabling conclusion or termination of an employment contract in electronic form, which was provided in the draft law amending certain laws in connection with shortening the period of storage of employee files and their digitalization.
The Appeal Court in Łódź in its judgment of 30 March 2016 (ref. no. I ACa 1435-1415) ruled that there is no reason to consider that the size of injury suffered by a minor as a result of her father's death is negligible, only for the reason that at the time of accident the minor, due to her age, was not able to consciously experience harm. In her case, the effects of the event will be experienced mainly in the future and these effects should be compensated.
The Supreme Court in its judgement of 24 November 2016 (ref. no II CSK 131/16) held that it is an insurance company which shall be liable for the fraud committed by a person performing agency activities on behalf of this insurance company.
On 16 December 2016 the Polish Financial Supervision Authority published a statistical and financial report titled “Quarterly Bulletin. Insurance market 3/2016”.
The European Union is seriously considering the possibility of restricting the use of big data files by financial institutions.
On 19 December 2016 the uniform text of the Act on Compulsory Insurance, Insurance Guarantee Fund and the Polish Motor Insurers' Bureau has been published.
On 20 December 2016 the uniform text of the Act on Insurance Mediation has been published.