CGPA Europe organised last week a much-anticipated video conference in Spain to celebrate the 40th anniversary of the Spanish Insurance Contract Law, which was a great success, and gathered about 400 attendees.
CGPA Europe and the main organisations of the sector – UNESPA, the Consejo General de Mediadores de Seguros (the General Council of the Colleges of Insurance Intermediaries), FECOR, ADECOSE, CIAC and AUNNA – presented their views on the development of the Law during these last four decades.
This videoconference, widely commented on by the Spanish press, was an opportunity for the key players in the Spanish insurance market to analyse the contributions of this law from a practical point of view. From the various court rulings arising out from this law, to the necessity to adapt it to the current insurance industry: various aspects of this law were analysed by the speakers, who outlined the crucial importance and contributions of this law for the sector.
Finally, it was pointed out that the inclusion of arbitration as a means of reducing disputes in the sector would be a significant opportunity for the Spanish insurance sector, if this law were to be amended.
This meeting is therefore a step forward in terms of the thinking around the contributions of this law to the Spanish insurance industry over the last 40 years, and further anchors CGPA Europe’s presence in the Spanish intermediation market.