Abstract
The topic of this paper is substantial changes of insurance, ie the term introduced into the Czech law by Act No. 170/2018 Coll., on the distribution of insurance and reinsurance, beyond the requirements of Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on Insurance Distribution (IDD). A substantial change is not explicitely defined as a change of the contract, but may be interpreted also as an action within the framework of existing contractual terms and conditions, which has a significant impact on the content and scope of a particular insurance policy.
On 1st May 2020, law no. 119/2020 Sb. amending, among others, Act No. 170/2018 Coll., comes into effect. It also implements the requirements of Article 185 (5) of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II.)