Summary of latest interesting insurance issues (the first half of April 2017)
The Financial Ombudsman has presented the first compilation of complaints submitted by Polish citizens in connection with financial institutions’ activities, on the basis of the Act on the handling of complaints by financial market entities. In the case of insurance companies, most complaints were related to motor insurance (46%), in particular MTPL, and life insurance (27%).
The President of the Office for Competition and Consumer Protection is conducting proceedings on the increase of premiums of motor third party liability insurance.
The Financial Ombudsman has commented on the draft of the Amendment of the Act on Compulsory Insurance, the Insurance Guarantee Fund and the Polish Motor Insurers Bureau, in which it indicated that it opposes the proposed solutions, which are primarily aimed at finding significant savings for insurance companies at the expense of persons injured in road accidents and their families.
The Supreme Administrative Court in its judgment of 21 February 2017 (ref. no II FSK 50/15) ruled that compensation, such as indemnity, does not benefit from personal income tax exemption, if it is a result of a contract or settlement, other than a court settlement.
The Supreme Administrative Court in its judgment of 11 April 2017 (ref. no I FSK 1721/15) ruled that renting out a car to an employee, even for a fee, entitles the employer to deduct only 50 percent of tax included in the price of that car and its fuel.
Strengthening of the powers of the Polish Financial Supervision Authority to prevent the provision of financial services by using various types of internet platforms by unauthorized entities is the main aim of the recently presented draft amendment of the Act on financial market supervision and certain other acts.
On 7 April 2017 the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of March 2017.
On 3 April 2017, the Council of the European Union approved provisions increasing the powers of shareholders of certain listed companies, including extending their influence on managers’ remuneration.
The Ministry of Digitalisation has developed a draft amendment to the Road Traffic Code and certain other acts, with shall progress in the implementation of the Central Register of Vehicles and Drivers.
The Court of Appeal in Wrocław in its ruling of 20 February 2017 (ref. no AKz 70/17) held that corporations can protect their clients' data to a greater extent than that which results from the literal wording of the Banking Law provisions.
The Supreme Court in its judgement of 6 April 2017 (ref. no III SK 15/16) ruled that a corporation that has taken over another company, shall take over not only customers, buildings and employees, but also any decision of the President of the Office for Competition and Consumers Protection to the detriment of the collective interests of consumers unfavorable for the company being taken over.
The Supreme Court in its judgment of 31 March 2017 (ref. no I CSK 290/16) ruled that a dominant position itself is not an act of unfair competition, however in such case the differential treatment of contractors by the entrepreneur must be economically justified.