Climate change and fl ood insurance in Germany, Great Britain and Serbia

In this paper, the author analyzes the organization of fl ood risk insurance, the risk which signifi cantly deteriorates due to climate change in Germany, the United Kingdom and Serbia. Th e author used selected studies and works, national legislation, insurance conditions and materials of specialized organizations. Climate change signifi cantly aff ects the frequency and severity of the harmful consequences of fl ood risks, which, due to their catastrophic consequences and territorial exposure, require more effi cient prevention measures and the design of their insurance. Floods are increasingly occurring as a result of heavy rainfall and high winds that simultaneously enhance their harmful potential. Th erefore, insurers cannot ignore the impact of climate change on the conditions for taking risks, determining the insurance premium, excesses and all other aspects related to these risks. From the point of view of risk assessment and selection techniques, the principle of fl ood insurability will certainly be applied in the future. Th erefore, refraining insurers from insuring those risks where the recurrence of fl oods is more frequent than a certain number of years (fi ve or ten years), based on the historical development of claims or classifi cation of zones into the danger class with increased frequency, will certainly pose a problem for policyholders. In Germany, fl ood risk cover is provided similarly to a number of Serbian insurers, ie. as an additional risk to basic property risks. However, the German insurance practice provides an opportunity to insure a number of other natural risks as a supplementary risk in the form of a natural risk package. It should be pointed out that there are also insurers in Serbia, whose policy terms regarding the cover scope more or less coincide with the insurance of named risks in Great Britain. Th ese are insurance conditions that represent an extension of the so-called traditional insurance of named fi re risks, which certainly represents a good step in the direction of modernizing the household insurance conditions in Serbia.

THE IMPORTANCE OF BIG DATA AND ARTIFICIAL INTELLIGENCE FOR EFFECTIVE HEALTHCARE INSURANCE PLANS

Big data is a complex noun that marks sets of data in various formats. Th ere are a lot of challenges in dealing with them, including how to store, search, analyze and share them. In this paper, co-authors deal with relation of big data and artifi cial intelligence and eff ective healthcare insurance plans. In the analysis is taken into account that insurance as a business activity is critically connected to managing risk. In the paper is tested hypothesis: the quality of understanding risks in health care insurance is directly connected to the quality of information. Th is subject requires multidisciplinary approach that includes: informatics, legal and organizational science as well as insurance in health care.

NAKNADA ŠTETE USLIJED PRETRPLjENIH TJELESNIH POVREDA I SMRTI PREMA NOVOM ZAKONU O OBAVEZNOM OSIGURANjU U SAOBRAĆAJU FEDERACIJE BOSNE I HERCEGOVINE

Th e new Law on Compulsory Traffi c Insurance has recently entered into force in the Federation of Bosnia and Herzegovina. By enacting of this Law the high level of harmonization with EU-acquis has been achieved. Besides, the interstate harmonization, i.e. equalization with the same-named Law act in Republic of Srpska has also been achieved. Th e special characteristic of this Law that diff ers it from the similar acts in SEE region and wider, is regulating of the rules for determination of the scope of pecuniary and non-pecuniary damage occurred in a traffi c accident. Th e set of rules is prescribed in form of the Framework criteria for determining the compensation amount for injuries or death, which are an integral part of the Law. In this paperwork, the overview of the mentioned Framework criteria will be shown, as well as their importance with regards of legal certainty in determination of the scope of damage. Also, there is a discussion about overcoming the interstate confl ict of law that occurred by their enacting.

UTICAJ ZAKONODAVNOG OKVIRA JAVNIH NABAVKI NA SEKTOR OSIGURANjA

Since the introduction of the fi rst Public Procurement Act in 2002, the public procurement market has accounted for a signifi cant share of total premiums earned by insurance companies. In that sense, the author in this paper presents the impact of the public procurement legal framework on the insurance sector in the light of the most signifi cant innovations contained in the Public Procurement Act, which entered into force on 1 January 2020. Furthermore, the paper emphasizes the importance of adequate preparation of tender documentation and additional conditions for participation in the procurement of insurance services. Finally, the author analyzes the practice of the Republic Commission for the Protection of Rights in Public Procurement Procedures, which reveals the most common mistakes of contracting authorities in compiling additional conditions of fi nancial and business capacity.

AUTO-ODGOVORNOST U SLUČAJU AUTOMATSKOG IZBORA

Automation has an important role in the reduction of human errors, but what about in case of losses caused by an automated vehicle? Who is liable? Th is paper addresses the issue of automation coverage for costs in the event of damage caused by an automated decision-making process. It will consider civil liability and insurance from the point of view of problems related to the proof of a causal nexus between wrongdoing and losses. Th e thesis that the paper proposes is that legal liability is not a suffi cient instrument to permit eff ective prevention and compensation in the case of damage caused by full algorithmic automation.

EU PRAVILA TRŽIŠNOG PONAŠANjA U PRAKSI – TEMATSKI IZVEŠTAJ EVROPSKE AGENCIJE ZA NADZOR OSIGURANjA I PENZIONIH FONDOVA O PUTNOM OSIGURANjU

In 2019 EIOPA published the fi rst Th ematic Report, followed by the warning to the insurance industry regarding complaince with the IDD rules in the travel insurane sector. Тhe paper analyzes thematic report as concept, methodology and approach of EIOPA to thematic reports, and points out key complaince requirements from the war- ning EIOPA communicated to the insurance industry;

PRAVNA PITANjA RAZLICITIH MODELA OSIGURANjA LICA PREKO INTERNETA

Digitalization aff ects the whole value chain of the insurance business: from the design to the distribution of products and claims management. Peer-to-peer (P2P) is one of the new operating models enabled by digitalization. Th is chapter describes the diff erent models of P2P that are operating in the insurance markets. Th e aim is to outline some legal issues these models pose regarding the EU regulatory framework on insurance.

PRAVNO REGULISANjE INSURTECH KOMPANIJA – DA LI JE PRINCIP SRAZMERNOSTI ODGOVOR?

In the view of the current discussion on how to regulate the emerging InsurTech companies, if at all, the author attempts to demonstrate that rather than automatically introducing new regulation, the principle of proportionality can help to adapt application of the existing rules and policy approaches to the InsurTech business models without incurring major regulatory change. An example of peer-to-peer platforms is used to show how the specifi city of each InsurTech company can be grasp by the three key criteria of proportionality – nature, scale and complexity.

ELEKTRIČNI TROTINETI I OSIGURANjE OD AUTOODGOVORNOSTI

Technological progress, importance of taking care of the environment and need for the “micro-mobility” of humans in the cities, have led to increased usage of electric scooters. Every means of transportation, including the scooter, cause of risk of a damage. Possibility of causing of the damage opens a question of the obligation of owners of the electric scooters to conclude motor third party liability insurance. Th is paper tries to give an answer on the question. Author also seeks to fi nd an answer on a question is the injured party entitled to receive compensation of damage from guarantee fund, if the damage is caused by the uninsured electric scooter. Author gives the positive answer on these two questions. Author concludes that de lege lata electric scooter must have third party liability insurance, and that injured party is entitled to receive the compensation from the guarantee fund. Obligation of the owners of the electric scooter to conclude liability insurance, as well as injured party claim toward the guarnatee fund, is based on the fact that electric scooter is motor vehicle, according to the legal defi nition of the motor vehicle. Author considers that there is no legal gap in current laws of the Republic of Serbia, concerning insurance of the electric scooters. It is not necessary to change regulations on compulsory insurance in traffi c. Th ere is no need for the special rules for insurance of electric scooters. Legal issues concerning insurance of electric scooters and redress of damage caused by those scooters, can be resolve by interpretation of the applicable regulations.

UTISAK OSIGURAVAČA O EFIKASNOSTI SMERNICA EVROPSKE AGENCIJE ZA NADZOR OSIGURANjA I PENZIJSKIH FONDOVA O SISTEMIMA UPRAVLjANjA INFORMACIONO-KOMUNIKACIONIM TEHNOLOGIJAMA

Th e European Insurance and Occupational Pensions Authority (EIOPA) issued a consultation paper on the 13th March 2020, proposing guidelines on information and communication technology (ICT) security and governance, which will apply from 1st July 2021. In this paper, we aim to determine the perceived eff ectiveness, (i.e. effi ciency, relevance, coherence and benefi t) of the proposed guidelines, by carrying out a survey and discussions with targeted users (Practitioners / Controllers / Regulators in the area of Insurance) and bringing to light their various concerns and recommendations. Th ese guidelines are very superfi cial and generic and they do not reach the purpose for what they were set. Moreover, although they require that specifi c identifi ed risks are addressed they are not specifi c in addressing the how and when and leave it up to the organisations to determine this. Measurability of results is another issue, which makes it very diffi cult for compliance and enforcement to determine when and how to act, even in terms of proportionality. Th erefore, although the guidelines are clear in what they want to achieve, their eff ectiveness of the approach leaves much to be desired and is considered by respondents as creating more confusion than good and can turn out to be just another scope for duplication of eff orts and data collection overspill with no added value.