THE PRINCIPLES OF EUROPEAN INSURANCE CONTRACT LAW - A REVOLUTION IN THE INSURANCE SPHERE?
THE PRINCIPLES OF EUROPEAN INSURANCE CONTRACT LAW - A REVOLUTION IN THE INSURANCE SPHERE?

Summary/Abstract: The European Union, this vast surface situated in a continuous expansion and also subject to heavy trials, an example of cooperation between states and, at the same time, of fragile interrelations, has been conceived as a space of freedom, security and justice, respecting the fundamental rights and freedoms and the different legal systems and traditions of the Member States. Covering as many business lines as possible and convincing the Member States to adopt new regulations or modify the already existing ones, in order to reach a European consensus, the European Union pays great attention to the insurance sector too. In 2002, on a European level, a totally different project, of absolute novelty was launched, in this respect a specialized commission of studying and development being made up: we speak about the The Principles of European Insurance Contract Law (PEICL). The main purpose of this extensive document is to become a benchmark for insurers doing business in the European Union, relying on the European Union treaties on free movement of persons, goods, services and capital. If approved, this project will establish a uniform insurance contract regime in the European Union, which is not yet clear whether it will be beneficial or not.

• Details
• Contents