6TH EDITION OF THE EUROPEAN OBSERVATORY
THE 6TH EDITION OF THE EUROPEAN OBSERVATORY TAKES STOCK OF EUROPEAN CASE LAW
For this new edition, CGPA Europe continues to enrich its database of European case law, dedicated to the professional indemnity of insurance intermediaries.
From the removal of a broker, from the single register (ORIAS) in France, depriving them of all remuneration on contracts taken out prior to this removal, or the prohibition of retrocession of commissions to the insureds on the part of intermediaries in Germany, to the liability of the insurer in Italy for the acts committed by the sub-agent – this database summarizes the Courts’ rulings that have marked the intermediation landscape in 2018 in the form of commented practical cases.
A TREND IN EUROPEAN CASE LAW HIGHLIGHTS THE LIMITS TO THE INTERMEDIARY’S DUTY TO ADVISE
The Observatory also highlights the limits to the intermediaries’ duty to advise and show that they cannot be held liable for non-disclosures or omissions by their clients, in particular in the case of a professional deemed to be an experienced buyer of insurance.
INTERMEDIATION FIGURES IN EUROPE
We are also enriching our study on developments in the European intermediation market.
Noteworthy points: the insurance intermediaries still occupy a predominant place in the distribution of Life (44% market share among 16 countries accounting for 87% of the total EU market) and Non-Life (62%) insurance products in 2018, showing strong resilience in a context of increased competition, particularly from bancassurance and online platforms.