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Executive Summary Report – April 2018

On 5 April 2018 Members of Parliament submitted to the Minister of Finance the interpellation on the limitation of lowering compensation for motor insurance damages (interpellation no 21317). The MPs stated that currently many car owners bring actions against insurance companies because of the low level of motor insurance compensation granted. As the MPs explained, it causes a lengthening of the claims settlement process and increasing costs.

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.

On 27 April 2018 the Polish President signed a new law. It regulates that Poles will be able to recover money that was mistakenly transferred to another bank account more easily.

On 30 April 2018 a package of five laws known as the Constitution for Business, which are aimed to facilitate running business in Poland, came into force. One of the laws focuses on improving the business environment for foreign investors. The act sets rules and controls the forms of participation of foreign entrepreneurs in economic activity on the territory of Poland.

In 2017 clients lodged 367,916 complaints on insurance sector entities. 25% of them were considered in accordance with the client’s demand according to a Financial Ombudsman’s report. In 2017 clients submitted 14,356 motions concerning insurance activity. Most of them entail infringements in the motor insurance sector (35%). Clients complained about refusal to award compensation, or part such, or underestimating the amount of compensation. 

The Office of the Polish Financial Supervision Authority (UKNF) has presented its position on the specific nature of the use of cloud computing by supervised entities. The position was created with respect to the fast technological progress and the increasingly common access to cloud computing services as well as the needs reported by supervised entities.

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