Competent and professional performance of insurance business as a part of the protection of the rights and interests of insurance service users

Abstract

Insurance represents a business activity which is becoming increasingly important for all trends in society. Namely, all commercial and other activities beneficial to society, by means of an insurance policy, ensure the safety of business, regardless of any risks that may arise. As a result, a competent and professional performance of insurance business, which among other things protects the rights and interests of insurance service users is crucial for this business activity. That is why we, in this paper, put a particular emphasis on the obligations of a competent and professional performance of the insurance business, which are stipulated by the EU Directive on insurance distribution, as well as by the National Bank of Serbia Guidelines on minimum standards of conduct and a good practice for insurance market participants.

Keywords

• professional insurance
• the Directive on insurance distribution
• interest of insurance service users