According to the Chancellery of the President, work on regulating life insurance policies belonging to deceased people is finishing and should be completed by the end of June. The project will create a special new institution which will have data about life insurance agreements and make the information available to the deceased’s family. In this way they will get to know if their relatives had a life insurance policy, who was indicated as beneficiary and in which insurance company.
On 10 May the Polish Parliament formally approved the draft of the Data Protection Act (DPA). 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. The Act came into force on 25 May 2018.
The European Commission has proposed to strengthen EU rules on motor insurance to better protect victims of motor vehicle accidents and improve the rights of insurance policyholders. The EC's proposal will ensure that victims of motor vehicle accidents receive the full compensation they are due, even when the insurer is insolvent. The revamped rules will also ensure that those who have a previous claims history in another EU Member State are treated equally to domestic policyholders, and potentially benefit from better insurance conditions.
On 25 May the Ministry of Finance presented a revamped draft bill on PPK pension plans, specifying the details of the investment policy and allowing pension funds and insurers to participate in the program.