Policyholder Obligations After an Insured Event: Are Baltic Insurance Laws Too Insurer-Friendly Compared to the Principles of European Insurance Contract Law?

more+
less-

http://versita.metapress.com/content/v07q02jg4534222l/fulltext.pdf

This article explores the differences between the Estonian Law of Obligations Act, the

Latvian Insurance Contract Law and Lithuanian rules contained in the Civil Code and

Insurance Law in comparison with the Principles of European Insurance Contract Law with regards to the policyholder’s obligations after insured event. The three key obligations after insured event, i.e., (i) the obligation to reduce damage, (ii) the obligation to report an insured event, and (iii) the obligation to cooperate, play a major role in the performance obligation of the insurer. It is precisely the proper performance of those obligations that determines how quickly the policyholder receives insurance indemnity, should there be an insured event. Breach of those obligations may in certain cases result in a refusal to pay insurance indemnity. Compared with national laws of the Baltic States, the relevant regulation provided in the PEICL is more favourable and consumer-friendly for policyholders.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Olavi-Juri Luik | Attorney Advertising

Written by:

more+
less-

Olavi-Juri Luik on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×