We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

Life insurance: cooling-off period

Insurance Law Monthly

Life insurance: cooling-off period

The Insurance Conduct of Business Rules (ICOBS), implementing the Solvency II Directive 2009, provide for a 14-day cooling off period during which the policy may be cancelled for any reason. The insurer is under an obligation to inform the assured of the right of cancellation, and the time for cancellation runs from the date on which the assured is informed of the right to cancel.

The CJEU in Rust-Hackner and Others v Nürnberger Versicherung Aktiengesellschaft Österreich and Others, Joined Cases C-355/18, C-356/18, C-357/18 and C-479/18 considered a number of questions relating to the running of time where the insurer has given incorrect information as to the formalities of cancellation.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?


Request a trial Find out more