Contemporary Economy (Mar 2017)
LEGAL REGULATIONS AND THE MARKET OF INSURANCE SERVICES IN THE SME SECTOR IN 2014-2015 AS EXEMPLIFIED BY POLAND
Abstract
Apart from banking and telecommunications services, insurance is the most dynamically developing market in Poland. Since 1990, when the law on insurance activity was passed, the number of insurance companies has increased considerably. The quick adoption of the above-mentioned law was related to the system transformation and an urgent need to adjust that sector of the economy to the standards applicable in capitalist countries. The unification of the law and adoption of international insurance conventions have stimulated the growth of that sector. The offer of insurance companies has been extended to include new and better services, ranging from basic vehicle or property insurance to complicated financial insurance. A broadly conceived insurance market consists of two basic components, i.e. insurers who represent the supply of insurance coverage and policyholders, or persons with a property interest, who represent demand. A person who concludes an insurance contract with an insurer is a policyholder. This article presents the legal regulations concerning of insurance services undertaken by enterprises in Poland.
