Online selling - Online payment services

There is currently no specific insurance regulation on online payments, so transposing legislation of the Directive (Eu) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on Payment Services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (“PSD2”) is fully applicable.

There is no specific regulation applicable to online payments for insurance products.
Therefore, the banking regulations of PSD and PSD2 under the French monetary and financial code, apply to online payments.

No further rules specifying main issues concerning insurance companies and intermediaries regarding online payments in insurance in the context of online distribution and Insurtech besides what regulated by European Union law.

There is no specific regulation relating to online payments of insurance products. However, the following regulations are fully applied:

• Decree Law no. 7/2004, which regulates the Legal Framework for Electronic Commerce (transposing the Directive (EU) 2000/31/CE, of the European Parliament and of the Council);
• Decree Law no. 91/2018, which regulates the Legal Framework for Payment Services and Electronic Currency (transposing the Payment Services Directive (EU) 2015/2366 of the European Parliament and of the Council).;
• Decree Law no. 109-G/2021, (transposing partially the Directive (EU) 2019/2161 of the European Parliament and of the Council, with respect to better enforcement and modernisation of Union consumer protection rules, namely regarding online purchase of products). Please note that this regulation entered into force on 28 May 2022.

There is currently no specific regulation on online payments for insurance products in the Netherlands. Generally digital payments in the Netherlands are covered by the requirements following from the PSD2, which is mainly implemented in the Netherlands into the Dutch Financial Supervision Act (including the lower rules and regulations promulgated thereunder) and the Dutch Civil Code.

There are no specific regulations related to online payments for insurance products.
The insurance payments fall under the general regulation of the Law of Ukraine “On Payment Systems and Funds Transfer in Ukraine”
No. 2346-III, dated 5 April 2001, which relatively soon will be replaced by the new Law of Ukraine “On Payment Services” 1591-IX, becoming effective on 1 August 2022.

There is currently no regulation relating specifically to online payments of insurance products, but Payment Services Regulations 2017/752 (transposing the PSD2), is fully applicable.

There is currently no specific insurance regulation on online payments, so Royal Legislative Decree 19/2018, on payment services and other urgent measures in financial matters, transposing the PSD2, is fully applicable.