SLOVENIA: The new insurance distribution law is officially in force since 31 January 2019

14 February 2019 —
The National Assembly has officially transposed the European directive of insurance distribution in the national law at 31 January 2019. This initiative has come in the context where most European countries have already adopted the directive in their own law system.

The new law will offer Slovenian consumers a better protection against inappropriate products sellings. Before selling their products, the insurers must define the target group, to whom the insurance product is intended to use, what the products is intended for, what are the risks involved, as well as to whom the product is not intended.

"We are pleased that the National Assembly has adopted the amendment of the Insurance Act, which gives Slovenian consumers better protection and information about insurance products. However, our members did not wait for the country's legislation to introduce new rules, but the changes started to be largely observed as early as 1 October 2018, which was also felt by consumers on the market", said Mag. Maja Krumberger, director of the Slovenian Insurance Association.

More details about the European Directive can be found on EUR-Lex website, here.