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Executive Summary Report – March 2019
10.04.2019

The President of the Personal Data Protection Office (UODO) imposed the first fine in the amount of over PLN 943,000 for the failure to fulfil information obligation.


 

The Polish Insurance Association has published its report about the bancassurance sector in Poland after Q4 2018. According to the publication, a declining tendency of gross written premiums in the BA sector continues. In 2018 banks received PLN 7.6 bln premiums – 12.2% of all GWP received by insurers in 2018. In 2017 it was PLN 10.2 bln (16.3%). Decreasing of GWP appeared only in the life insurance sale via banks. It related especially to unit-linked products. In 2018 banks received PLN 3.3 bln premiums. This is PLN 2.9 bln less than a year before.


 

The Polish Insurance Guarantee Fund (UFG) has started a new program of supporting people injured in car accidents through to their recovery. The customized, free recovery program for injured people includes physiotherapy, psychiatric and psychological advice. The program also applies to people in a serious health condition after awaking from a coma.


 

On 8 March 2019 the European Commission adopted new rules to help insurers to invest in equity and private debt and to provide long-term capital financing. As a result of the new rules, insurers will have to hold less capital for such investments and will therefore find it more attractive to invest in the economy. The newly adopted rules, which take the form of a Delegated Regulation, amend the EU prudential rules for the insurance sector, known as Solvency II, and follow up from the Mid-term review of the CMU Action Plan.

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