Extension of the competence of the Financial Arbitrator to cover the area of life insurance

As a consequence of the adoption of the Act No. 278/2013 Coll. the competence of the Financial Arbitrator has been extended to cover the area of life insurance. As of 1 November 2013 the Financial Arbitrator is therefore competent to decide disputes between an insurance company or insurance intermediary and person considering to enter into an insurance contract, policyholder, the insured, right holder, or appointed person arisen in connection with the offering, providing or mediation of the life insurance.

The Financial Arbitrator is not competent to decide disputes concerning any other type of insurance (e.g. property insurance, insurance against liability for damage caused to third parties, etc.). The same applies in cases where such non-life insurance (e.g. accident insurance) forms a supplementary insurance to the life insurance contract.

 

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