Within the framework of the Common Frame of Reference (CFR) of European Contract Law, which aims at the creation of a more coherent European contract law with common principles, terminology, and structure, PEICL is the specific contribution for insurance contract law.
PEICL is intended to serve as an Optin Instrument for parties contracting in an insurance contract, and presents a net of mandatory rules introduced for the protection of the policyholder. The binding nature of such rules and their interplay with the national rules on consumer protection and more specifically the definition of consumer, are discussed in this article
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