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Transparency in Insurance Law and Regulation in Spain

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Transparency in Insurance Regulation and Supervisory Law

Part of the book series: AIDA Europe Research Series on Insurance Law and Regulation ((ERSILR,volume 4))

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Abstract

Information is the lifeblood of financial markets that allows decisions and timely choices to be made. That is why information must be adapted to situations that arise through the framework of appropriate regulations so that the insurance sector can act efficiently. And precisely information is considered as one of the most efficient instruments. In this context, there is also information transparency in relation to both insurance mediation and the management and supervision of insurance. On the other hand, the Spanish legal system, apart from recourse to the courts, offers the parties affected by an insurance relationship multiple options to resolve disputes that arise under the insurance contract: common arbitration, consumer arbitration, mediation, customer service, insurance ombudsman and the claims service of the General Directorate of Insurance.

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Notes

  1. 1.

    In fact, with the exception of Law on Insurance Contract (hereinafter: LCS), such as Article 8.9, concerning the content of the policy in which the name and type of the insurance intermediary must be stated, in case they intervene in the contract, and Article 21, dealing with the effects of the communications made by the insurance broker to the insurer on behalf of the policyholder, the scope of the intervention of the intermediary in the insurance contract is regulated by specific act. See Quintans Eiras (2014), p. 353.

  2. 2.

    Cfr. the historical evolution of Spanish legislation on insurance intermediaries until the enactment of the LMSRP in Tirado Suárez and Sarti Martínez (2007), pp. 65–156.

  3. 3.

    http://www.boe.es/buscar/pdf/2006/BOE-A-2006-12916-consolidado.pdf.

  4. 4.

    Fuentes Camacho and Vara Parra (2007), pp. 247–270, as well as Tirado Suárez and Sarti Martínez (2007), pp. 157–193.

  5. 5.

    Bataller Grau (2007), pp. 111–120.

  6. 6.

    Tirado Suárez and Sarti Martínez (2007), pp. 277–282.

  7. 7.

    Quintans Eiras (2014), p. 355.

  8. 8.

    Belando Marín (2007), pp. 337–356.

  9. 9.

    Latorre Chiner (2007), pp. 221–239.

  10. 10.

    Outside of these intermediaries are the so-called “insurance comparators”, vid. López Bustabad (2015), pp. 717–730, as well as Lasheras Romero (2016), pp. 111–140.

  11. 11.

    González Castilla (2007), pp. 137–184.

  12. 12.

    González Castilla (2007), pp. 187–193.

  13. 13.

    Puyalto Franco (2015), pp. 665–694.

  14. 14.

    Muñoz Paredes (2012), passim, as well as García-Pita y Lastres (2015), pp. 593–664.

  15. 15.

    Tirado Suárez and Sarti Martínez (2007), pp. 617–640.

  16. 16.

    Tirado Suárez and Sarti Martínez (2007), pp. 641–645.

  17. 17.

    Cfr. Act 44/2002, of November 22, of Financial System Reform Measures and the ministerial Order ECO/734/2004, of March 11, about the departments and services of customer service and the defender of the client of the financial entities. https://www.boe.es/buscar/pdf/2004/BOE-A-2004-5290-consolidado.pdf.

  18. 18.

    Tirado Suárez and Sarti Martínez (2007), pp. 646–651.

  19. 19.

    See Ramírez (2013), pp. 697–706.

  20. 20.

    Tirado Suárez and Sarti Martínez (2007), pp. 652–655.

  21. 21.

    http://www.dgsfp.mineco.es/reclamaciones/index.asp.

  22. 22.

    Gisbert (2007), pp. 241–279, as well as Tirado Suárez and Sarti Martínez (2007), pp. 656–658.

  23. 23.

    https://www.boe.es/buscar/pdf/2015/BOE-A-2015-7897-consolidado.pdf.

  24. 24.

    http://www.boe.es/buscar/pdf/2015/BOE-A-2015-13057-consolidado.pdf.

  25. 25.

    See Bataller Grau (2013), pp. 621–641.

  26. 26.

    See Peñas Moyano (2013), pp. 669–695.

  27. 27.

    Account should also be taken of the provisions of article 122 ROSSEAR.

  28. 28.

    Cfr. Morillas Jarillo (2016), passim.

  29. 29.

    Vid. articles 123 a 126 ROSSEAR.

  30. 30.

    https://www.boe.es/buscar/pdf/2007/BOE-A-2007-20555-consolidado.pdf.

  31. 31.

    https://www.boe.es/buscar/pdf/2012/BOE-A-2012-9112-consolidado.pdf.

  32. 32.

    https://www.boe.es/buscar/pdf/2003/BOE-A-2003-23646-consolidado.pdf.

  33. 33.

    See Rodríguez-Ponga Salamanca (1997), pp. 349–359.

  34. 34.

    See Pérez Garrigues (2013), pp. 719–723.

  35. 35.

    As a jurisdictional equivalent Law 60/2003 is not inclined to postulate jurisdictional intervention in it, perhaps because it considers that the best arbitration is one that at no time of its procedure needs the intervention of judges and courts. Indeed, if the parties voluntarily wanted to submit the dispute to an instance (institutional arbitration) or to a person or persons other than ordinary jurisdiction, it would be difficult to sympathize with a continuous referral of the regulation of arbitration to judges and tribunals. In fact, the Arbitration Act itself provides, as a corollary, the so-called “negative effect of the arbitration agreement”, in which courts are prevented from hearing disputes submitted to arbitration (ex-article 7). Thus, judicial intervention in matters submitted to arbitration should be limited to the support and control procedures expressly provided for in both the Arbitration Act itself and the Civil Procedure Law [appointment and judicial removal of arbitrators, the practice of evidence, judicial adoption of precautionary measures, enforced execution of the award or arbitration awards, ruling on the action for annulment of the award or recognition of awards or arbitration awards abroad (exequatur)].

  36. 36.

    As an exception to this autonomy of the will, “compulsory arbitration” in the area of the right to strike should be taken into account from the already classic STC 11/1981 of April 8, in which the validity of the governmental decision to establish such compulsory arbitration is conditioned to its correct assessment of certain aspects of the socio-labor situation (duration or consequences of the strike, positions of the parties) and whether the strike results in serious damage to the national economy.

  37. 37.

    The Spanish LCS has in its article 76 e) a right of the insured to submit to arbitration any difference that may arise between him and the insurer on the legal defense insurance contract. However, in Spanish doctrine has questioned the constitutional fit of this legal right by violating the fundamental right to effective judicial protection. Sic Lara González (2012), pp. 89–99.

  38. 38.

    https://www.boe.es/buscar/pdf/2008/BOE-A-2008-3527-consolidado.pdf.

  39. 39.

    Of special importance are the public offers of adhesion to the arbitration system of consumption. This is a unilateral offer of adhesion to the arbitration system of consumption that makes the entrepreneur or professional (article 25.1.I RDAC). Thus, the mere presentation of the request for arbitration by the consumer before the Arbitral Board provokes the valid formalization of the arbitration agreement, provided that the request “coincides with the scope of the offer” (article 24.2 RDAC). The employer can establish in the offer of adhesion the extension and limits of the same. This follows from the reference in various places to the “scope of supply” (articles 24.2 and 28.4 RDAC). It is possible, therefore, that there are limitations in an OPASAC.

  40. 40.

    Vid. Lara González (2012), pp. 321–333.

  41. 41.

    Vid. Benito Osma (2012), pp. 104–114.

  42. 42.

    Act 20/2005, of November14, on the creation of the Register of Insurance Contracts of death coverage. http://www.boe.es/buscar/pdf/2005/BOE-A-2005-18668-consolidado.pdf.

  43. 43.

    Royal Decree 398/2007, of March 23. http://www.boe.es/buscar/pdf/2007/BOE-A-2007-8180-consolidado.pdf.

  44. 44.

    Vid. García Mandaloniz (2007), passim.

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  1. Public University of Navarra, Navarra, Spain

    Rafael Lara

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  1. Department of Legal Studies, Catholic University of the Sacred Heart, Milan, Italy

    Pierpaolo Marano

  2. School of Law, University of Exeter, Exeter, UK

    Kyriaki Noussia

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Lara, R. (2021). Transparency in Insurance Law and Regulation in Spain. In: Marano, P., Noussia, K. (eds) Transparency in Insurance Regulation and Supervisory Law. AIDA Europe Research Series on Insurance Law and Regulation, vol 4. Springer, Cham. https://doi.org/10.1007/978-3-030-63621-0_11

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