Civil Code of Czechoslovakia adopted in distant 1964, has been in force on the territory of the Czech Republic since its foundation in 1992. After twenty years Chech Republic adopted new Civil Code in 2012, which brings new and modern rules for the relations being the object of regulation in the civil law, including insurance contract law. Author explains the historical background of the insurance contract legislation and particularly views key issues regarding scope and extent of the provisions regulating legal relations from the insurance contract and legal method used (compulsory / optional provisions proportion) in the Czech Civil Code. Some of the updates this law brings are analyzed against domestic and comparative laws and the European Court of Justice practice.