The insurance industry must comply with good insurance practice. Usually, disputes are decided directly under the law and applicable insurance conditions. However, in some cases which are open to interpretation, good insurance practice may be the decisive factor. The Insurance Complaints Board’s practice demonstrates that good insurance practice can sometimes be worth money to the claimants.
Partners Matti Komonen and Herman Ljungberg at Hammarström Puhakka Partners, Attorneys Ltd, have written an update on this matter. The update titled “Insurance Complaints Board: good insurance practice” has been published in the International Law Office’s newsletter on 3 April 2012.