scholarly journals Liability for Incorrect Client Personalization in the Distribution of Consumer Insurance

Risks ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 83
Author(s):  
Piotr Tereszkiewicz ◽  
Katarzyna Południak-Gierz
Keyword(s):  
European Union ◽  
New Technologies ◽  
Insurance Contract ◽  
The European Union ◽  
Insurance Contracts ◽  
Legal Obligations ◽  
Insurance Product ◽  
Individual Client ◽  
Consumer Insurance

The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust the offered insurance product to the needs, features, and situation of each individual client. This study seeks to examine how liability should be allocated when the process of the personalization of an insurance product does not result in the client’s choice of an optimal product. First, we identify the typical uses of new technologies allowing for an adjustment of insurance contracts. Second, we analyze the interplay between their application and the legal obligations of insurance product distributors. Subsequently, the paper discusses the scope of factors the insurance distributor is liable for when using personalizing tools in contacts with clients. We submit that offering an online personalization of insurance products ought to be regarded as being equivalent to providing advice under Art. 2, Sec. 1, Point 15 of the European Union Insurance Distribution Directive (IDD). From the consumer’s perspective, our analysis makes the case for the insurance distributor’s liability for mispersonalization of an insurance contract.

scholarly journals Oil Price Uncertainty, Globalization, and Total Factor Productivity: Evidence from the European Union

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3429
Author(s):  
Svetlana Balashova ◽  
Apostolos Serletis
Keyword(s):  
European Union ◽  
Total Factor Productivity ◽  
New Technologies ◽  
Innovation System ◽  
Price Volatility ◽  
Oil Price ◽  
Price Uncertainty ◽  
The European Union ◽  
Factor Productivity ◽  
Tfp Growth

This paper uncovers linkages between oil price uncertainty, total factor productivity (TFP) growth, and critical indicators of knowledge production and spillovers. It contributes to the literature by investigating the effects of oil price volatility on TFP growth, controlling for two different channels for TFP growth; benefits from the quality of the national innovation system and from adopting new technologies. We use an unbalanced panel for 28 European Union countries for the period from 1990 to 2018. We find that oil price uncertainty has a negative and statistically significant effect on TFP growth, even after we control for technological advancements and the effects of globalization. We also find that the scale of research and innovation and international trade are positive contributors to TFP growth.

E-Government at Supranational Level in the European Union

2011 ◽  
pp. 501-506
Author(s):  
F. Amoretti
Keyword(s):  
European Union ◽  
Social Cohesion ◽  
Information Society ◽  
New Technologies ◽  
Action Plan ◽  
White Paper ◽  
The European Union ◽  
Common Information ◽  
Use Of The Internet ◽  
Community Programmes

The term “e-government” became part of the political vocabulary toward the end of the 1990s. Previously, with the onset of new technologies, it found its place in the wider “semantic container,” the information society. To respond to the United States and Japan’s economic challenge, the European Commission drew up a “White Paper on Growth, Competitiveness, and Employment: Challenges and Ways Forward to the 21st Century” (the so-called Delors’ White Paper). The construction of the IS is considered one of the five fundamental priorities of the Union to create a “common information area” based on ICTs and telematic infrastructure. E-government was the key element of significant community programmes (i.e., IDA [Interchange of Data between Administrations] and TEN-TELECOM [from 2002 renamed eTen]). A decisive step toward the development of EU policies for e-government came with the approval, in June 2000, of the Action Plan “eEurope 2002: An Information Society for All.” Guidelines were fixed for greater use of the Internet, and the initiative “Government online: electronic access to public services, [which] aims to ensure that citizens have easy access to essential public data, [...] [and, in order to improve] efficiency in the public sector, will require a re-thinking of internal organisation and of electronic exchanges between institutions” (Council of the European Union & Commission of the European Communities, 2000, p. 22). A few months previously, based on numerous EC documents, the Council of Europe of Lisbon indicated an ambitious objective for the European Union: “to become the most competitive and dynamic economy based on knowledge in the world, capable of achieving sustainable economic growth, creating new and better jobs and more social cohesion.” The so-called “Lisbon strategy” to permit Europe to recover the delay accumulated compared to the U.S., was intended to guide community policies up to 2010. It is in this context, interwoven with different and often conflicting pressures (economic competition and social cohesion, market logics, and the language of rights) that action plans are formulated and policies for e-government implemented in Europe.

Data Protection in the Federal Republic of Germany and the European Union: An Unequal Playing Field

2014 ◽  
Vol 15 (3) ◽  
pp. 461-494
Author(s):  
Anne-Marie Zell
Keyword(s):  
European Union ◽  
Data Protection ◽  
New Technologies ◽  
Location Based Services ◽  
Federal Republic Of Germany ◽  
The European Union ◽  
Member States ◽  
Eu Member States ◽  
Playing Field ◽  
The Eu

With the negotiation of its Data Protection Regulation, the European Union seeks to reform an outdated set of laws that has failed to address the evolving data protection challenges inherent in new technologies such as social networks, e-commerce, cloud computing, and location-based services. This article addresses the forthcoming Data Protection Regulation as well as the current state of data protection law in the EU, with a particular focus on Germany. The first part of the article examines Germany's robust data protection framework and the EU's existing authority. The article then raises key issues related to data protection in Germany and the EU—namely, discrepancies in data protection standards and enforcement among EU Member States—as illustrated by recent, high profile cases involving household names like Facebook, Apple, Google, and Amazon. Through this analysis, the article attempts to explain how and why companies doing business in Germany, but established in other EU Member States, are subject to less stringent data protection standards than German companies. Lastly, the article synthesizes the issues in debate with regard to the draft Data Protection Regulation and offers perspectives on what the Regulation could and should mean for data protection in the EU.

scholarly journals European Union Entrepreneurship and Innovativeness Support Policy for Businesses

2012 ◽  
Vol 15 (2) ◽  
pp. 5-29 ◽  
Author(s):  
Zofia Wysokińska
Keyword(s):  
European Union ◽  
Economic Development ◽  
New Technologies ◽  
Technological Development ◽  
Transfer Of Knowledge ◽  
The European Union ◽  
Research And Innovation ◽  
Knowledge Based Economy ◽  
Level Of Economic Development ◽  
Main Factor

The development of entrepreneurship as well as research and innovation have direct impact on growth in the level of economic development as well as the prosperity of individual citizens and society in general. The primary goal of policies involving research and technological development is establishing the European Union as a leading knowledge–based economy. Innovativeness is also the main factor in improving the competitiveness of companies. The key to improving the economic situation in Poland is the strengthening of innovative attitudes among entrepreneurs. An efficiently running institutional system guaranteeing effective support instruments for entrepreneurs and the scientific–research sphere as well as guaranteeing the unhindered transfer of knowledge should prove helpful. As the main factor in improving the competitiveness of companies, innovativeness is mainly the result of the development of collaboration between the spheres of science and business as well as the use of patent achievements in companies. The drive behind future growth in the European Union will be sectors based on knowledge and innovation. However, these require a solid industrial network and resources allowing the utilization of new technologies. To a great extent, growth in entrepreneurship and innovativeness as significant factors in the economic development of Europe and Poland is dependent on the elimination of administrative barriers for companies and the introduction of the facilitating of information and communication (ICT) as needed for them to function.

scholarly journals Who needs lobbying? The usefulness of interest representation in the European Union from the European Commission's point of view

2021 ◽  
Vol 35 ◽  
pp. 69-84
Author(s):  
Sławomir Luber
Keyword(s):  
European Union ◽  
European Commission ◽  
Expert Knowledge ◽  
Point Of View ◽  
The European Union ◽  
Main Subject ◽  
Interest Representation ◽  
Legal Obligations ◽  
Representation Of Interests

The article addresses issues related to the use of cooperation with lobbying groups for the European Commission. The main subject of the paper is the representation of interests in the European Union arena and the Commission’s exercise of its treaty competences. The analysis focuses on the use of expert knowledge and legitimacy provided by lobbying groups in the context of their usefulness in the process of fulfilling the Commission’s legal obligations. The arguments are classified into four groups: legislative, executive and supervisory, organisational, and legitimacy. In each of the groups, the Commission’s Treaty obligations are analysed, as well as the use of particular goods provided by lobbying groups in the course of their implementation, which allows to determine of the scope of benefits resulting from such cooperation. The purpose of this article is to examine the usefulness of lobbying in fulfilling the Commission’s Treaty functions.

scholarly journals Social Aspects of New Technologies - the CCTV and Biometric (Framing Privacy and Data Protection) in the Case of Poland

2012 ◽  
Vol 14 (4) ◽  
pp. 117-150 ◽  
Author(s):  
Zofia Wysokinska ◽  
Radosław Dziuba
Keyword(s):  
European Union ◽  
Small Businesses ◽  
New Technologies ◽  
Personal Data ◽  
Fundamental Rights ◽  
The European Union ◽  
Security Systems ◽  
Eu Directive ◽  
Security Software ◽  
Legal Security

The purpose of this paper is to review the institution responsible for the protection of personal data within the European Union and national example - Polish as a country representing the new Member States. The analysis of institutional system - providing legal security of communication and information institutions, companies and citizens against the dangers arising from the ongoing development of innovative new technologies in the European Union and Poland. This article is an attempt to analyze the possibility of using security systems and Biometry CTTV in Poland in terms of legislation. The results of the analysis indicate that, in terms of institutions Poland did not do badly in relation to the risks arising from the implementation of technology. The situation is not as good when it comes to the awareness of citizens and small businesses. This requires that facilitate greater access to free security software companies from data leakage or uncontrolled cyber-terrorist attacks. With regard to the use of security systems, CCTV and biometrics, Poland in legal terms is still early in the process of adapting to EU Directive. The continuous development of technology should force the legislature to establish clear standards and regulations for the application of CCTV technology and biometrics, as it is of great importance in ensuring the fundamental rights and freedoms of every citizen of the Polish Republic.

scholarly journals Aspects of The Evolution of Enterprises in Member States of The European Union

2021 ◽  
Vol 10 (3) ◽  
pp. 157
Author(s):  
Petrică Sorin Angheluță ◽  
Dumitru Alexandru Bodislav ◽  
Maria Loredana Popescu ◽  
Florina Bran
Keyword(s):  
European Union ◽  
New Technologies ◽  
Technological Development ◽  
Point Of View ◽  
The European Union ◽  
Member States ◽  
Industrial Base ◽  
Foreign Affiliates ◽  
Successful Business ◽  
The Way

A solid industrial base positively influences society as a whole. Business development is favored by the degree to which companies are active in the market. The article presents an analysis of employment in companies active in the Member States of the European Union. The evolution of the establishment of active enterprises according to their branches of activity is also addressed. Openness to local markets can lead to successful business activities. Cooperation between different companies can also be facilitated by new technologies. From the point of view of mobility, employment in foreign affiliates of domestic enterprises is another subdomain analyzed in the article. The way in which companies approach the field of expenditure can influence their activity. Thus, by increasing technological capacities and promoting innovation, technological development measures lead to the development of enterprises. The article presents an analysis of the way in which expenditure is shared at the level of enterprises in the Member States of the European Union.

scholarly journals DEVELOPMENT OF BANK ASSURANCE IN THE REPUBLIC OF MACEDONIA

2019 ◽  
Vol 30 (1) ◽  
pp. 93-98
Author(s):  
Nikola Dacev
Keyword(s):  
European Union ◽  
New Technologies ◽  
Distribution Channel ◽  
Developed Countries ◽  
The European Union ◽  
Member States ◽  
Insurance Supervision ◽  
Republic Of Macedonia ◽  
The Law ◽  
The Republic

Banking has gained a new dimension throughout the world in the last few decades due to the integration of global financial markets, the development of new technologies, the universalization of banking operations and diversification into non-banking activities. The merging of various financial services has provided synergies in the banks' operations and development of new concepts. One of these concepts is bank insurance (or banc assurance). Banc assurance, as an emerging distribution channel of insurance, essentially is defined as mediation of banks in the sale of insurance policies issued by insurance companies that are most often used as additional collateral for banks when giving loans to their clients, while the clients with the purchase of credit insurance through banks are secure in case of inability to pay off the loan due to occurrence of the insured risk, whereby the insurer covers the remaining debt of the client towards the bank. Banc assurance is much more developed in Western European countries, but in recent years this type of insurance has noted a trend of growth in the less developed countries also. Banks in the Republic of Macedonia, as well as banks in other countries in the region, try to encourage the development of banc assurance, but it still has a low level of growth in comparison with the European Union member states. This paper presents the level of development of banc assurance as well as its share in the insurance market in the Republic of Macedonia by analyzing the annual reports of the Insurance Supervision Agency of the Republic of Macedonia for the past few years. Consequently, an appropriate comparison was made between the realized values of the gross written premium of the banks as intermediaries in insurance with the realized values of the gross written premium of the other insurance intermediaries (insurance brokerage companies and insurance agencies); and a brief comparison was made with the share of banc assurance in the insurance markets in several countries in the region. The purpose of the paper is to determine the reasons for the situation in which the banc assurance in the Republic of Macedonia is, to analyze the need and the possibility for its development, as well as to determine the manners for banc assurance to reach the level of development in the member states of the European Union as soon as possible. For this purpose, an adequate analysis of the level of implementation of the European Directives for banc assurance (such as the Directive on Insurance Mediation and the Directive on Insurance Distribution) in the legal framework of the Republic of Macedonia has been carried out, as well as analysis of the national legislation regulating banc assurance in the Republic of Macedonia, covered in couple of provisions in the Law on Banks and the Law on Insurance Supervision.

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