Published : 2019-10-01

Process aspects of protecting the rights of the insured-consumer in the context of the implementation of the right from the loan colateral, which was established on the insurance contract

Abstract

It is common practice on the financial services market to use loan collateral by transferring rights from a property or life insurance contract. This also applies to consumer trading. For this reason, practical problems must be faced not only at the stage of transfer of claims from the insurance contract, but primarily at the stage of implementation of claims – after an insurance accident. The purpose of this article is to analyze the legal and actual procedural position of the insured-borrower or his heirs in that cases. The procedural solutions proposed in the case-law will be analyzed in the light of their compliance with the requirement to guarantee consumers the effectiveness of protection instruments provided for in the EU consumer law regime. This will also determine the need to refer to economic relations between the insured-borrower, the bank and the insurer.

Keywords:

bancassurance, payment protection insurance, loan collateral, action for a benefit to a third party, action to establish

JEL Codes

G220, K120, K150


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Rogoziński, D. (2019). Process aspects of protecting the rights of the insured-consumer in the context of the implementation of the right from the loan colateral, which was established on the insurance contract. Safe Bank, 76(3), 113–129. https://doi.org/10.26354/bb.6.3.76.2019

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