OECD LEGAL RULES OF GOOD PRACTICE FOR FIRST LOSS NOTICE IN INSURANCE

In this paper, the author invokes the OECD 2004 Guidelines for Insurance Claim Management, but briefl y comments on the 1997 OECD views on insurance. The focus of the analysis of the legal rules of good practice from the OECD Guidelines was on the section describing the procedure for the fi rst loss notice to the insurer. The author points out that the Draft Civil Code of Serbia should provide for a novelty – to print out, on the insurance policy, what is and what is not covered under particular insurance terms and conditions; thus the legal language of the text printed on the insurance policy would be completed with simple linguistic explanation. The 2009 Draft Civil Code of Serbia (Article 1170, Paragraph 3) proposed that the provision on writing onto the insurance policy and the provision according to which the written part prevails over the printed part of the policy should be omitted.

Keywords: OECD Guidelines for Insurance Claim Management; fi rst loss notice procedure; legal rules of good practice; Draft Civil Code of Serbia.