According to a recent amendment to the preliminary draft of the Insurance Law, recently processed in the Congress of Deputies, insurance companies could not raise the premiums for their clients, due to aggravations in their health condition. We would be talking about Medical insurance, life insurances, accident insurance y Death insurance.
What would this new regulation be based on?
The basis of this new approach is that The assessment of the health conditions and price of the insurance must be made at the time of contracting. Subsequent variations in the health status of the insured, constitute in themselves the object of the insurance itself, and must be assumed as a risk within the contract. Unilateral variation of conditions by insurers would be a position that distorts the nature of the aforementioned insurance, and would be prohibited.
In previous articles, we had already set our goal in criticize this type of action by insurers
What doubts arise with this new regulation?
We have several doubts about this matter, on the one hand confirming if it will really come into force on the scheduled date of January 1. On the other hand, there would be knowing how the insurers will act, given that although they are prevented from raising premiums, nothing is said about the capacity that exists to cancel the contracts by both parties. If the result were that insurers would generally cancel unprofitable contracts due to illness of the insured, the situation would only get worse.
If you need advice with your insurance in the Canary Islands, do not hesitate to call us
If you want to save on your insurance, we put at your disposal the first Insurance Comparator in the Canary Islands, where you can calculate the best prices in the Canary Islands online for life insurance, accident insurance, medical insurance and many other insurances