Trwałość umowy ubezpieczenia na życie w świetle wymogów wynikających z regulacji dotyczących przeciwdziałaniu praniu pieniędzy oraz finansowaniu terroryzmu
Durability of the Life Insurance Contract in the Light of Requirements Related to Anti-Money Laundering and Counteracting the Financing of Terrorism (AML/CFT requirements)

Summary/Abstract: According to Article 830 § 3 of the Civil Code, the insurer may terminate a life insurance contract only in cases specified in the law. In the current legal framework, it is assumed that no civil law regulations give the insurer the possibility to terminate the life insurance contract. However, it is not clear whether the durability of a life insurance contract is subject to change in the light of public law AML/CFT regulations, i.e. where the insurer is unable to implement any financial security measures laid down in the legislation regarding customer due diligence. This article attempts to answer the question whether the principle of the protection of life insurance durability stipulated by law takes precedence over the insurer’s obligations resulting from AML/CFT regulations, and whether this principle could lead to the insurer’s exposure, as an obligated institution, to the risk of infringing AML/CFT regulations.

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