On Oct. 6, BEL PRL published draft law on termination of contracts.
BEL PRL published the adopted text of a draft law simplifying the termination rules for insurance contracts; text adopted by plenary session and submitted to royal assent.
Bill Summary
The bill was first submitted for consideration on Jul. 20, 2019 and has subsequently been through the process of refining the text and proceeding through committees.
Aims to adapt rules relating to termination of contracts to better protect consumers.
Insurance ombudsman receives more and more disputes upon contract termination.
Simplified formalities and deadlines that must be respected by insured if terminated.
Proposed law introduces a right to cancel the insurance contract at any time after the first year, free of charge, subject to one month's notice, for consumers.
Oct. 2023 Law Published
On Oct. 18, 2023, BEL GVT published Law of Oct. 9, 2023 simplifying the rules for terminating insurance contracts, in force on Oct. 1, 2024 to contracts after that date.
