On June 26, the Polish Ministry of Finance submitted three draft regulations for public consultation, Gazety Ubezpieczeniowa announced. The proposed acts pertain to new limits for guaranteed sums in liability insurance for agency activities and brokerage operations, as well as guarantees for agency activities performed by agents offering supplementary insurance.

The need to increase the minimum guaranteed sums for these protective products is related to the adoption of Commission Delegated Regulation (EU) 2024/896 of December 5, 2023, amending Directive (EU) 2016/97 of the European Parliament and of the Council regarding regulatory technical standards adjusting the base amounts in euros for professional liability insurance and for the permanent financial capacity of insurance and reinsurance intermediaries and intermediaries offering supplementary insurance. The regulation came into force on April 9, 2024, and will be applied starting October 9, 2024.

According to Article 1, point 1 of the EU regulation, the base amounts that determine the minimum guaranteed sum for the above-mentioned liability insurance or comparable professional liability guarantees arising from professional negligence will be increased to 1,564,610 euros per claim and 2,315,610 euros in total for all claims, respectively.