Complaints act 2015 – a new Measure of customer Protection on the Polish insurance Market
Complaints act 2015 – a new Measure of customer Protection on the Polish insurance Market

Summary/Abstract: On 5 August 2015 the Sejm passed the Act on the handling of complaints by financial market organi- sations and on the Financial Ombudsman. The Complaints Act was signed by the President of Poland on 25 August 2015 and came into force (except for article 62 and Chapter 4) on 11 October 2015. The new law was adopted in order to improve the protection of persons (in particular consumers) who use financial services. This purpose is to be achieved by setting out the procedures and time-frames for the processing of complaints by financial market organisations. Upon its implementation, the Complaints Act is expected to ensure that complaints filed by clients of financial market institutions, including those of insurance companies, are settled in a timely man- ner and out of court. Since the Act is relatively short and applies universally to the entire financial services sector, it contains a large number of very general rules. This may mean that a case-by-case application of the Complaints Act may bring about an array of difficulties in interpretation caused by the fact that the applied provisions may fail to address the distinctive characteristics of a given type of service or activity. The purpose of the paper is to introduce and analyse key features of the Complaints Act.

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