A (Contrats d'assurance « unit-linked ») (Judgment) French Text [2022] EUECJ C-143/20 (24 February 2022)

A (Contrats d'assurance « unit-linked ») (Judgment) French Text [2022] EUECJ C-143/20 (24 February 2022)

The Court held that the precontractual information obligations under Directive 2002/83/EC apply to insureds who are not policyholders in collective unit-linked insurance contracts, requiring clear and comprehensive disclosure of the nature and risks of representative assets. Failure to provide such information may constitute a misleading commercial practice under Directive 2005/29/EC and can affect the validity of the contract under national law.

Citation
[2022] EUECJ C-143/20
Parties
Applicant: A; Respondent: O; Applicant: G. W.; Applicant: E. S.; Respondent: A. Towarzystwo Ubezpieczeń Życie S. A.
Jurisdiction
European Union
Judgment Date
24 February 2022
Procedural Posture
Preliminary Reference / Final Judgment
Outcome
Questions answered; interpretation provided
Legal Topics
Unit Linked Insurance, Precontractual Information, Misleading Commercial Practices, Nullity of Contract, Collective Insurance, Investment Risk Disclosure
Insurance Law Consumer Protection EU Law Unit Linked Insurance Precontractual Information Misleading Commercial Practices Nullity of Contract Collective Insurance +1 more

Case Brief

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Parties

A

Applicant

O

Respondent

G. W.

Applicant

E. S.

Applicant

A. Towarzystwo Ubezpieczeń Życie S. A.

Respondent

Procedural Posture

Preliminary Reference / Final Judgment

Legal Issues

  1. 1 Whether precontractual information obligations under Directive 2002/83/EC apply to insureds who are not policyholders in collective unit-linked insurance contracts
  2. 2 Scope of information required regarding the nature and risks of representative assets in unit-linked insurance
  3. 3 Whether omission of such information constitutes an unfair commercial practice under Directive 2005/29/EC

Ratio Decidendi

The Court held that the precontractual information obligations under Directive 2002/83/EC apply to insureds who are not policyholders in collective unit-linked insurance contracts, requiring clear and comprehensive disclosure of the nature and risks of representative assets. Failure to provide such information may constitute a misleading commercial practice under Directive 2005/29/EC and can affect the validity of the contract under national law.

Court Disposition

Questions answered; interpretation provided

Orders

  • Precontractual information obligations under Directive 2002/83/EC apply to insureds in collective unit-linked insurance contracts.
  • Information must include nature and risks of representative assets.