Chapter 4: Legitimacy of statutory insurance against natural hazards using the example of the KGV

Abstract

As stated above, a statutory insurance system requires obligatory insurance (compulsory insurance); the monopoly of the insurance organisation, in this case the KGV, is characteristic of this system. The obligatory insurance in itself is compatible both with the constitutional guarantee of the right of ownership (art. 26 BV) as well as with economic freedom (art. 27 and 94 BV)215. The legitimacy does not give rise to discussions which is why this point will not be discussed further. Below, we will focus our attention exclusively on the legitimacy of the KGV monopoly in insurance of buildings against natural hazards.