Pre-contractual Information Duties in German Insurance Contract Law

I. Introduction | II. The regulation of Insurance Contracts in Germany | 1. German Law: Insurance Contracts Act and Insurance Supervision Act | 2. European Law: Harmonization of Insurance (Contract) Law | a) Current status | b) Future prospects | III. The Insurer’s Pre-contractual Information Duties | 1. Purpose | 2. Design | a) Information to be provided | b) Timing of information | c) Effects of non-disclosure | aa) Revocation of the contract | bb) Damages | IV. The Policyholder’s Pre-contractual Information Duties | 1. Purpose | 2. Design | a) Facts to be disclosed | aa) Substantive limits | bb) Open questions | cc) Actual knowledge | b) Time of disclosure | c) Effects of non-disclosure | aa) Avoidance of the contract | bb) Termination of the contract | cc) Modification of the contract | dd) Exclusion of rights | V. Conclusion | Annex: Excerpts from the German Insurance Contract Act