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Legal Literature Details
Member State Greece
Title The principle of transparency in the terms of insurance contracts – Obligations and rights of the insured person.
Type article
Reference Review of transport law (legal magazine)
Publication Year 2015
Keywords case law, consumer, insurance contract, insurance policy, transparency

Unfair Contract Terms Directive, link Unfair Contract Terms Directive, Article 4, 2. Unfair Contract Terms Directive, Article 5

This article comments on the importance of the principle of transparency in the pre-formulated standard clauses (General Terms of Transactions) included in insurance policies. It also focuses on the obligations and the rights of the insured persons/consumers with regards to an insurance agreement. In particular, reference is made to the need to abide to the consumer protection provisions regarding the drafting of these clauses; they should be drafted in a plain, clear and intelligible manner in order to provide detailed information to the consumer; the consumer must be also able to fully understand their meaning. The author points out the scope and the essence of transparency in the pre-defined standard clauses (General Terms of Transactions) as a significant element for clear and fair transactions. Moreover, the article contains an analysis of the national case-law regarding the role of transparency in insurance contracts in specifically. It also elaborates on the consequences in case the principle of transparency is breached; a term becomes unfair and therefore invalid as void.

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