Application of the Directive on unfair commercial practice 2005 on insurance


Author studied the topic irt two parts. In first part, he scrutinised in detail sixfields regulated by Directive, which are, as per his interpretation, of special importance for Directive’s implementation on insurance. In second part, he explains basic attitudes on the method of harmonising the insurance law system of Republic Serbia by this Directive. In such regard, he gives thefollowing proposals:

1. Legislation

a) In first instance, dedicated Unfair Commercial Practice Act liarmonised with this Directive regulating all fields of the unfair commercial practices of merchants tozvards consumers that may influence consumer buying decision on produds, including unfair advertising and marketing with such effect should be adopted. This is because fragmentary address of these issues in the Consumer Protection Ad and Advertising Act 2005 could not grntify objedives the Directive covers, i.e. that law ensures high level ofconsumer protection against unfair commercial practice by prohibiting merchant acts diredly impairing consumer economical interest in making informed and efficient detision on buying produds and providing indired protection of the economical interest ofthe legitimate competitors on the market;

Unfair commercial acts of specific insurance activities must be defined in the particular list of the Insurance Act, embracing insurer, insurance intermediaries and consultants. The other list of requirements refers to information that should be provided to insurance clients as consumers in the light of Life Insurance Directive 2002, Third Non-Life Directive 1992, Directive on Insurance Intermediaries 2002, but also adjusted to insurance,