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Estonia · Bill · SE

993

Act on Amendments to the Insurance Activities Act and the Law of Obligations Act

menetlusse voetudEstonia· Riigikogu· ET

Introduced

14 September 2026

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MENETLUSSE_VOETUD

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Source updated

14 September 2026

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Summary

The entry into force of the draft law makes the insurance market more flexible and reduces the administrative burden on companies. In a more significant change, insurance brokers can start using agents to offer insurance. This creates a new opportunity for customers to conclude an insurance contract and helps to increase the availability of insurance. Representatives are subject to the same insurance marketing requirements as brokers and agents and are responsible for their activities insurance broker. The supervision of the Financial Inspectorate also extends to the representatives. In addition, cross-border insurance activities will be simplified. In the future, an insurance company from another country will be able to operate permanently in Estonia without establishing a branch here, and Estonian insurance companies will have the same opportunity when operating in other countries. In order to reduce the administrative burden, the insurance broker's obligation to publish the annual report on its website and location will also be abolished.

Machine translation from Estonian. The official text remains authoritative.

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13 official files

Seletuskirja lisa 3 (märkused ja ettepanekud) pdf

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