Executive Summary Report – June 2019
On 27 June 2019 the Report from the Commission to the European Parliament and the Council on the application of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking and pursuit of the business of Insurance and Reinsurance (Solvency II) with regard to group supervision and capital management within a group of insurance or reinsurance undertakings was published. This report assesses the benefit of enhancing group supervision and capital management within a group of insurance or reinsurance undertakings, as required under Article 242(2) of the Solvency II Directive.
New regulations resulting from the amendment to the Act on Foreigners
Amendment to the Act on Foreigners came into force on April 27, 2019. The primary purpose of this amendment is the introduction of new solutions regarding the entry and stay of foreigners in Poland. More specifically, the Act aims to implement into Polish law the Directive (EU) 2016/801 on the conditions of entry and residence of third-country nationals for the purposes of research, studies, training, voluntary service, pupil exchange schemes or educational projects and au pairing. It also provides for solutions aimed
at eliminating the so-called “stay tourism”.
Executive Summary Report – April 2019
The Polish government plans to dismantle private pension funds (OFE), the Prime Minister announced on 15 April in Warsaw. Assets accumulated in the funds, totalling PLN 162.3 billion (EUR 37.95 bn), will be transferred to individual pension accounts (IKE) or the state-owned social insurance fund.
Executive Summary Report – June 2018
The Financial Ministry is preparing new regulations on the supervision of European Union (EU) insurance companies which perform insurance activity in the territory of Poland under the Freedom Of Establishment (FOE) or the Freedom Of Services (FOS).
Executive Summary Report – May 2018
On 10 May the Polish Parliament formally approved the draft of the Data Protection Act. The main purpose of the new law is to implement the GDPR and ensure its application, but also to set a new legal and procedural framework for the Polish Data Protection Authority.
Executive Summary Report – April 2018
On 19 April 2018 in the Polish Senate there was a debate about the compensation advisory market in Poland. The aim of this kind of activity is elimination of market excesses. According to the Commission of Budget and Public Finance it is necessary to discuss compensation advisory conditions and prepare legal regulations for this branch.
CZUBLUN TRĘBICKI recommended by Ranking of Law Firms of daily Rzeczpospolita
For the sixteenth time, daily "Rzeczpospolita" published the prestigious Ranking of Law Firms, including 310 law firms. In this year's edition CZUBLUN TRĘBICKI Law Firm received a recommendation in the categories "Insurance law" and "Public Procurement Law". An individual recommendation was also given to Piotr Czublun, in the "Insurance Law" category.
CZUBLUN TRĘBICKI recognized by Legal 500 EMEA
CZUBLUN TRĘBICKI was included in this year's edition of Legal 500 EMEA ranking - an international ranking of law firms issued by the British company Legalease. The Law Office was recommended in the category "Insurance" (Band 2). An individual recommendation was also given to Piotr Czublun, who is responsible for the insurance law practice in CZTR.
Executive Summary Report – February 2018
On 12 February 2018 the President of the Republic of Poland signed the Act of 26 January 2018 amending the Act on insurance distribution. On 15 February 2018 the legal act was published in the Journal of Laws in position 378. The Act entered into force on 16 February 2018.
Executive Summary Report –January 2018
On 26 January 2018 Polish deputies supported an amendment to the Act on insurance distribution. The new act changes the application date of the Act of 15 December 2017 on insurance distribution from 23 February 2018 to 1 October 2018.
Executive Summary Report – October 2017
The amendment implementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs). 434 deputies supported the bill and only 2 refrained from voting. The bill has been referred to the Senate. The Second Reading of the governmental bill to amend the act on financial market supervision and the act on insurance activity was on 28 September. A day later the voting was held. The new regulations enter into force on 1 January 2018.
Executive Summary Report – September 2017
The Appeal Court in Lublin in its judgment of 29 June 2017 (ref. no I ACa 910/16) ruled that a car dealership that refuses to accept a defective vehicle is obliged to refund the customer the cost of insurance and maintenance of the defective car.
Consent to process personal data in the light of GDPR
From 25 May 2018, all Member States of the European Union will be obliged to apply Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and thus repealing Directive 95/46/EC (General Data Protection Regulation), therefore entrepreneurs should review their consent mechanisms to make sure they meet the GDPR requirements and introduce the necessary changes.
The impact of GDPR on the processing of sensitive data by insurance companies
From 25 May 2018, all Member States of the European Union will be obliged to apply Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation).
CZUBLUN TRĘBICKI recognized by international ranking Chambers & Partners
The year 2017 undoubtedly belongs to us and the run of good fortune, initiated by the change of the law office headquarters, is still continuing! This time it is thanks to our Clients who by appreciating our work and our commitment have contributed to the results of the prestigious European ranking Chambers Europe 2017.
GOOD CHANGES - CZUBLUN TRĘBICKI Law Office in their new headquarters!
After more than 7 years in business it is with fondness that we say goodbye to our office at Wiślana Street, as we are moving to a newly created office and residential complex located in the Powiśle district in Warsaw.
From the 13th of March 2017 you can visit us at our new headquarters at Solec 18 Street in Warsaw (entrance C, from the Vistula River side), vis-à-vis THE TIDES.
The state of the insurance sector after the third quarter of 2016
On February 16, 2017 the Financial Supervision Authority published a report on the state of the insurance sector after the third quarter of 2016. The report presented the basic information about the financial performance of the insurance sector aggregated on the basis of financial and statistical reports for the third quarter of 2016 as well as the trends observed in the insurance sector during this period with an attempt to explain and justify the changes identified. According to the report, the written premium of the insurance sector at the end of the third quarter of 2016 was 40.70 billion PLN and was lower by 0.18 billion PLN than in the corresponding period in 2015.
Insurance intermediaries will be obliged to handle complaints
The draft law on distribution of insurance, published in December 2016, besides introducing the new legislative act replacing the current Act on insurance mediation, also provides for changes in the three existing laws, i.e. the Act of 11 September 2015 on insurance and reinsurance activity, the Act of 22 May 2003 on insurance and pensions supervision and the Act of 5 August 2015 on handling complaints by financial market entities and the Financial Ombudsman (Act on complaints). Today we would like to introduce you to the changes provided by the latter.
LEGAL FLASH: The draft Act on insurance distribution under consultations
On 6 December 2016 a draft law (the draft Act on insurance distribution) aimed at implementing the Insurance Distribution Directive has been published and sent out for governmental and public consultations. The final law aimed at implementing the IDD is expected to adopted by the Council of Ministers by the second quarter of 2017. The date of adoption of the final law by the Parliament is not yet determined, however the draft law provides that, as a rule, it shall enter into force on 23 February 2018.
Legal Flash CZTR: Polish loan companies versus UOKiK
President of the UOKiK issued a decision on fees charged by the company Provident for servicing the loans at the debtor’s home.
The UOKiK proceedings against the company Provident showed that the calculation manner of the fees related to granting and repayment of the loans, applied by the company, may adversely affect the interests of consumers. The UOKiK concluded that the fees for servicing loans at the client’ home (reception of money from a consumer) differentiate, even though they have been established for the same amount of the installments. In fact, the amount of fees for services provided at home was related to the amount of the loan granted, and not the value of the service. Similar criteria was applied by Provident for calculation preparatory fees.