EUROPEAN REGULATION OF THE INSURANCE CONTRACT
EUROPEAN REGULATION OF THE INSURANCE CONTRACT

Summary/Abstract: As part of the joint effort of unifying European Private Law, separate initiatives have been taken concerning individual fields of research and regulations; it is also the case of contract law, more specifically, the insurance contract, subject to an independent initiative of creating a special European regime for all insurance. Conceived as both a tool to determine the orientation of the national legal regime of insurance law of the Member States, and a possible common EU regulation, the “Innsbruck” Group’s creation stands firstly as a unique insight on a possible mean of unifying European regulations in a given field, particularized by specific dynamics. Even though it is still considered as a part of the “soft law” that has recently emerged in the European Union, the relevance of an EU common insurance contract law is still subject to analysis by the most advised specialist in this field; but the conclusions of such research are yet to offer a definite answer on the matter at hand, given that solid argument are to be found both for and against the entry into force of such a regime.

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