Abstract
May 1, 2020, amendment of Act No. 170/2018 Coll. that influences fleet insurance came into force. The so called "qualified insurance interest", as the precondition for contracting fleet insurance, was replaced by relation between the insurance and offered goods or service.
The objective of the change is to prevent policyholders from offering fleet insurance without the existence of a real relation to the insurance or insured persons. In parallel, an obligation to report quarterly to CNB was introduced.
CNB issued a supervisory benchmark with regard to the fleet insurance, however to the original version of the Act. Then, CNB took a specific stand by providing answers to FAQs, in which it gives its opinion on adequate application of requirements to provide clients with information, credi- bility and professional qualification.
This article explains the meaning of the amended provisions and it wants to highlight the problematic interpretation by the supervisor.