POL GVT Insurance Agents' Liability


On Sep. 26, POL GVT published reg on insurance agents' liability.


  • POL GVT published Regulation of Sep. 19, 2024, amending the regulation on mandatory civil liability insurance for agency activities.
  • Follows POL GVT Jun. 2024 issued 3 draft regulations re agents/brokers see #217319.
  • Purpose
  • The minimum sum guaranteed by third party liability insurance, for a period not longer than 12 months, is the equivalent in zloty of €1,564,610 in relation to one event.
  • The effects of which are covered, and €2,315,610 in relation to all such events.
  • These amounts apply to contracts signed before the regulation's entry into force.
  • Effectiveness
  • The regulation enters into force on Oct. 9, 2024.

Regulators POL GVT
Entity Types IB; Ins
Reference OG 1415, 9/26/2024; Reg 9/19/2024; Reg 5/18/2018; Reg 2024/896
Functions Financial; Legal; Operations; Reinsurance; Risk; Treasury
Countries Poland
Category
State
Products Insurance; Professional Liability
Regions EMEA
Rule Type Final
Rule Date 9/26/2024
Effective Date 10/9/2024
Rule Id 227843
Linked to Rule :217319
Reg. Last Update 9/26/2024
Report Section EU

Last substantive update on 10/01/2024