TWO ISSUES CONCERNING INSURANCE-BASED INVESTMENT PRODUCTS, IN RETROSPECT

This article deals with insurance-based investment products, more precisely, with two key (legal) issues that may be raised in connection with this type of insurance. The first issue concerns the legal nature of the insurance lines that has been addressed in the practice of the European Court of Justice, whereas the second issue concerns regulatory requirements for the distribution of such products, depending on their legal form and qualification. The second issue is all the more important because the difference in regulatory requirements was the impetus and one of the main reasons for a comprehensive reform of the rules of market conduct in the field of insurance and the adoption of Directive 2016/97 (EU) on insurance distribution.

Key words: insurance-based investment products, Directive on insurance distribution, life assurance