Is there any legislation that provides that insurance policies have to be in a language the client can read?

Question

I am purchasing an insurance policy in Spain. The company is Zurich, and international provider. The policy is written in Spanish. They are refusing to provide a translation. Is there any EC Directives which they are failing to comply with? If so, where can I find it?

Answer 1

1. My aunt had dealings with Zurich and they were dreadful.
2. Any Company who expects you to sign something you cannot read and understand is not serious about doing business with you.
3. If they are being this awkward now, think how unhelpful they would they be if you had to claim.
Take your business elsewhere.

Answer 2

In the UK, the Financial Services Authority insists that information provided by insurers has to be in the official language of the EEA state where the customer is. Much of the FSA's rules and regulations reflect EC Directives so I would expect this to be the same right across Europe. Therefore I would insist that they provide an English tranlsation.

You can look at the Spanish financial service regulator's website at www.cnmv.es or you could contact the FSA in the UK. Their website is www.moneymadeclear.fsa.gov.uk.

If you need anymore help, let me know. I am in the insurance industry and may be able to hook you up with another provider if you don't get any joy with Zurich.

Answer 3

Yes, you should be able to read it - the FSA have rules etc regarding this. It seems a bit strange with all this Treating Customers Fairly stuff the market is concerned with at the moment that they're refusing to give you a translation. Also somethign to bear in mind - if you have a dispute with them and need to go to court, what jurisdiction will you need to follow? (in other words, do they expect you to work with Spanish Law, or English Law?)

Answer 4

In the UK the FSA have the following rule: (ICOB 4.8 FSA handbook)

4.8 Language of the information provided to customers
4.8.1 R All information provided to customers in accordance with this chapter must be in English, unless the customer requests it to be, and the firm agrees to it being,
in another language.

If this is applied in Spain then there is no obligation for the insurance company to provide information in another language.

Answer 5

Spanish law would dictate this. Check with someone is Spain - maybe your Zurich agent.

I could guess or tell you about another countries laws, but how helpful is that??

Answer 6

You can refuse to go through with the deal, on the premise that you believe they may be trying to get you to agree to something that you don't want, by making you sign a document you can't read. Remind them that there are other insurance agencies that will be quite happy to do business with you!

Answer 7

In California You have to.