Reforming the duty of disclosure

The non-existence of harmonisation or equally working mechanisms in the EU narrow on one side the scope of insurance products available to the insured, and on the other side, make it complicated and cost intensive for the insurers to offer their products in different member states of the EU. This is critical regarding the increasing importance of (consumer) insurance in Europe. Solutions still being in the process of creation raise the question whether contemporary insurance laws are still so far apart of each other? As a representative showcase the analysis covers the duty of good faith in English and German insurance contract law whereby the pre-reform law, the reformed law as well as the corresponding PEICL standard will be included. The comparison specially focuses on: the circumstances to be disclosed by the insured, the way in which the insurer''s questions and insurer''s answers are interpreted, the duration of the duty and the legal consequences of a breach in particular the legal rights available to the insurer. Anyone interested in or professionally involved with EU law especially insurance contract law should have a look into this exiting topic.