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Insurance providers in Germany may cancel contracts after claims
In the private damage and accident insurance sectors, insurers have the right to unilaterally and extraordinary terminate contracts, even after a claim has been processed and settled. This often occurs when companies review the profitability of their insurance branches.
Finding new coverage can be challenging for affected customers. When applying for new insurance, policyholders are typically required to disclose the reason for their previous contract termination and any prior damages. The fact that a previous insurer initiated the cancellation, along with the number and extent of prior claims, can lead new providers to reject applications. However, consumer experts note that cases where no solution can be found are extreme exceptions.
Entities
Bund der Versicherten · Germany · Julia Alice Böhne · Peter Grieble · Verbraucherzentrale Baden-Württemberg
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] New insurance applications typically require disclosure of the previous insurer's reason for termination and prior damages. www.op-online.de · www.volksfreund.de · www.wz.de
- [● 3 SOURCES] Insurers have the right to unilaterally and extraordinary terminate private damage and accident insurance contracts. www.op-online.de · www.volksfreund.de · www.wz.de
- [● 3 SOURCES] The fact that a previous insurer initiated a cancellation can lead new insurers to reject an application. www.op-online.de · www.volksfreund.de · www.wz.de
- [● 3 SOURCES] Insurers may terminate contracts to maintain the profitability of their insurance branches. www.op-online.de · www.volksfreund.de · www.wz.de
- [● 3 SOURCES] Cases where no new insurance solution can be found are considered extreme exceptions. www.op-online.de · www.volksfreund.de · www.wz.de