Key resolution by Supreme Court of Poland on third-party liability insurance for motor vehicle owners
On 11 September 2024, a panel of seven judges of the Supreme Court of Poland issued a resolution in case no. III CZP 65/23 regarding the settlement of claims within the motor insurance market. The ruling involves the possibility of using cost estimates to determine insurance claims when it is no longer possible to actually repair the vehicle. In December 2024, the Supreme Court published the justification for the resolution and the motives for its ruling.
The Polish Financial Supervisory Authority plans to repeal some recommendations and guidelines in connection with DORA
On its website, the Polish Financial Supervisory Authority (KNF) has announced that it plans to repeal the current recommendations and guidance for financial institutions on managing IT and cybersecurity, covered by the EU’s DORA regulation.
In search of lost profit: Business interruption insurance in disastrous times
The classic form of protection against the financial consequences of natural disasters is property insurance, primarily covering the risk of physical damage or destruction. But that is not all. Insurance for businesses can also protect against the loss of profits and against unanticipated costs of business interruption.
Poland’s insurance and banking industries issue credit protection insurance guidelines
In May 2024, the Polish Chamber of Insurance and the Polish Bank Association jointly issued Good Practice Guidelines on Credit Protection Insurance, with oversight of the financial regulator. The guidelines address a number of key issues, from creation of CPI products, to marketing, distribution, and monitoring of compliance.
Insurers of trade receivables should verify whether their outsourcing of collections complies with KNF guidance
Guidance from the Polish Financial Supervisory Authority of 25 March 2024 on certain aspects of outsourcing by insurers and reinsurers also covers collection proceedings related to performance of insurance contracts. Insurers offering trade credit for which collections are carried out by external providers must verify whether this outsourcing is compliant with the regulator’s position.
KNF’s new Recommendation U includes guidance for bancassurance and insurance distribution channels
On 26 June 2023, the Polish Financial Supervision Authority (KNF) adopted the new Recommendation U on good bancassurance practices, which will replace the previous Recommendation U of June 2014.
Traps when notifying the insured of the general conditions of insurance
The insurer incorrectly notified the insured of the general conditions of insurance. Could this result in the insurer being required to pay compensation, even though the general conditions of insurance state that there is an exception excluding the insurer’s liability?
Will drivers face an increase in third-party liability insurance premiums?
As of 17 June 2022, insurance companies in Poland have been given effective tools for assessing insurance risks in the form of access to information on fines and penalty points. Analysis of this additional data may prompt insurers to raise premiums for some drivers.
Coverage required for third-party liability insurance of healthcare providers
According to Polish and EU law, performance of certain services requires civil liability insurance. Such an obligation is imposed on entities performing healthcare activities, for which Polish law has specified the minimum amount of coverage. Can such coverage be exhausted by a medical loss?
Entering Poland by car and the insurance obligation
Many citizens of Ukraine are entering Poland by car, raising questions about insurance, the “Green Card,” and other issues. Below are some key clarifications.
What is “use of a motor vehicle,” and what does it mean to the insurance industry?
The scope of the insured’s liability (and thus, the insurance companies’ auxiliary liability) is affected not only by national law, but also by EU legislation and case law regarding “use of a motor vehicle.” After a recent Supreme Court resolution, a contradiction between the two has emerged.
Third-party liability insurance for owners of autonomous vehicles
Autonomous cars are slowly becoming a reality, accompanied by logistical, technological and legal barriers. The Polish parliament has already made some initial legislative steps by introducing, for example, a definition of an autonomous motor vehicle and a procedure for testing such vehicles on public roads. However, there is a need for further statutory regulation of insurance products and insurance companies tasked with providing compulsory third-party liability protection in a situation of great uncertainty and legal gaps.
