The Dutch Insurance Law
is part of the Civil Code and covers all areas of insurance
, life, and non-life insurance as well as the general rules for insurance companies
and their obligations towards the customer.
Non-life insurance refers to property or vehicle insurance while life and health insurance provide insurance policies for the individual.
The insurance company is required by law to disclose all and any relevant information to the insured individual, including information about the insurance premium and other conditions.
Requirements for insurance disclosure in the Netherlands
The obligation to disclose information applies to any insurance provider
and the breach of the duty to disclose can result in the termination of the insurance contract
. The insurer is legally allowed to terminate the agreement if he discovers a non-disclosed information. However, there are only two cases when this is possible: if the insured individual had the intention to mislead the company or when the insuring company can prove that it would not have covered the risk.
The insured individual can lose part of his entitlement to compensations if he fails to disclose essential information about the insured property.
The insurance law in the Netherlands grants a balanced set of right both to the insuring company and the insured individual.
Aspects covered by the Dutch insurance law
The insurance law covers a wide range of situations and aspects that are relevant to the manner in which the relationship between the insured and the insurer develops.
Some of the most important aspects include:
- premium payment: not payable of the insurer was not in danger,
- compensations to third parties and payments made to insurance brokers,
- fraud cases or willful misconduct,
- claims and the limits applicable.
Private insurance companies operating in the Netherlands are represented by the Dutch Association of Insurers.