Insured party

The term “insured party” under supervisory law is to be understood broadly, and encompasses the following categories of persons (generally independent of their characteristic as a consumer):

• Insurance policyholders (the contractual partner of the insurer),
• Life assurance beneficiaries (e.g. the beneficiary of occupational group insurance),
• Affected third parties in compulsory liability insurance (e.g. motor vehicle liability insurance),
• Other persons with an entitlement to a claim from insurance policies,
• Persons wanting to conclude an insurance policy (addressees of the information requirements pursuant to Articles 252 et seq. of the Insurance Supervision Act 2016).