Abstract
According to the author, codes of ethics are of significant importance as an example of self-regulation of the insurance market despite the fact that they do not belong to the constitutional sources of law. Non-compliance with the code of ethics by an entrepreneur may constitute unfair commercial practice in relation with consumers or unfair competition practice in relation with other entrepreneurs. Moreover, codes of ethics may specify the contents of general clauses regulated by the Civil Code, thus influencing the contents of the contracts concluded and validity of clauses thereof as well as the unlawfulness as an element of tortious fault and the level of professional due diligence required to be released from liability for the non-performance of contracts. In the author’s opinion, the entry into force of the Insurance Distribution Act ought to encourage updating and concretisation of the existing ethical codes.
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