On the website of the Financial Supervisory Authority (“FSA”) was posted the draft of the Rules on trading insurance contracts by electronic means.
The trading activity of insurance contracts by electronic means is defined as the activity undertaken in order to promote and conclude insurance contracts, by using the online environment, through electronic means of communication, regardless of their access device, having as purpose:
a) promotion of insurance contracts;
b) recording, centralization, re-transmission, processing or storing any offer request for insurance contracts, completed or not by their conclusion;
c) comparing insurance offers and / or prices for any insurance contracts;
d) issuing, through electronic or applications related to mobile devices, insurance policies and / or documents for collection;
e) issuing an insurance policy as a result of an order sent by any electronic means.
The trading of insurance contracts by electronic means is reserved for insurance companies authorized by FSA and for FSA licensed insurance brokers – for the latter, only if they operated the insurance brokerage activity for at least 12 months since their authorization date.
Insurance companies and insurance brokers who practice the marketing of insurance contracts by electronic means, should have dedicated staff for services of processing offer requests and / or online orders, and this staff has to meet all legal requirements on specific training for offers and sale of insurance products.
For insurance brokers, the director of that entity has to publish an authenticated statement, on its own responsibility, showing that there is no dispute concerning any insurance company for premiums earned and not submitted within the legal and / or contractual term.
The draft also establishes the content of the offer to be generated and submitted to customers. Also, before completing or placing an order or entering into an insurance contract, the potential insured person / customer also submits a statement on own responsibility, showing at least the following:
a) he is at least 18 years old;
b) that data and information are real at the time of completing the application.
On the other hand, insurance companies and insurance brokers who practice trading of insurance contracts concluded by electronic means and conclude services agreements with providers of solutions and / or software dedicated for marketing insurance contracts by electronic means, have to make sure that they meet, among others, the following conditions:
– they have as object of activity at least NACE code 6201 “Computer programming activities” (client-oriented software);
– undertake the trading of insurance contracts by electronic means based on services agreements / collaboration agreements with insurance companies and insurance brokers authorized by FSA;
– they are personal data operators.
Insurance companies and insurance brokers who practice the marketing of insurance contracts by electronic means, shall maintain a secure electronic register of persons with access to records in the application for the issuance of insurance policies.
:: The Source: JURIDICE.ro
Adina Elena OPREA
Junior Lawyer
