General Good for providers of cross-border insurance services

An insurer from an EU Member State exercising the freedom to provide cross-border services by carrying on its activities in Estonia has to adhere thereat to the Insurance Activities Act (hereinafter referred to as IAA; in Estonian: kindlustustegevuse seadus), Motor Third Party Liability Insurance Act (hereinafter referred to as: MTPLIA; in Estonian: liikluskindlustuse seadus) and other legislation - Decrees of the Government of the Republic, Decrees of the Minister of Finance, a Decree of the Minister of Social Affairs - issued on the basis of the IAA and MTPLIA on the provision of services permissible for insurers and as well as the relevant EFSA guidelines.

When providing insurance services the rules of contract law and principles of consumer protection regulated in the Law on Obligations Act (in Estonian: võlaõigusseadus) and Consumer Protection Act (in Estonian: tarbijakaitseseadus) have to be followed, stating inter alia, that if insurance is marketed in Estonia to consumers or traders comparable to consumers, the insurance terms and conditions as well as other information given to the applicant and policyholder about the insurance must be provided in the applicant's or policyholder's native language if it is Estonian. The complaints of customers can be treated by the Consumer Protection Board as well as by EFSA.

With regard to the prevention of money laundering and terrorist financing, the insurer when exercising the freedom to provide cross-border services in Estonia has to follow the Money Laundering and Terrorist Financing Prevention Act (hereinafter referred to as MLTFPA; in Estonian: rahapesu ja terrorismi rahastamise tõkestamise seadus), other legislation issued on the basis of MLTFPA and EFSA guidelines.

Apart from that, the insurer exercising the freedom to provide cross-border services in Estonia has to follow other requirements that have not been referred to above, but are provided for in the Estonian legislation applicable to the providers of non-life insurance services in Estonia. The Estonian legal acts are available in the Estonian language on the website www.riigiteataja.ee, both in the Estonian and in the English language on the website of the Legal Translation Centre www.legaltext.ee. The guidelines of the EFSA are available on the website of the EFSA www.fi.ee.