insurance lawFrequent guidelines to facilitate the actions of insurance coverage companies throughout the EU, be certain that they can survive in troublesome times, and defend policyholders. The insurer shall problem to the applicant in good time, an insurance policy or other insurance coverage certificates, which signifies the phrases and situations as agreed upon by each events. Within the event that the applicant has wrongly given the age of the insured, thus inflicting him to overpay the premiums, then the insurer shall refund the overpaid portion to the applicant.

Article 11 In concluding an insurance coverage contract, the applicant and the insurer shall abide by a good, mutually beneficial, consultative and voluntary principle and shall not infringe upon public interests of society. Article 102 An insurance company shall prepare reinsurance in accordance with the relevant provisions specified by the insurance coverage supervision and management authority.

We guide policyholders past the frustration brought on by insurance corporations that delay, deny and underpay claims. With our financial stability and global experience in insuring firms in these fields, these policies be sure that you may get one of the best recommendation and tailor-made options to mitigate the risks confronted by your company.

Nonetheless, the overall amount of funds for death shall not exceed the restrict prescribed by the insurance supervision and control authority. Where the sum insured is lower than the insurable worth, the insurer shall bear obligation for indemnity pro rata of the sum insured to the insurable worth, except in any other case stipulated within the contract.