In a previous legal briefing from our team, we examined the position of the “improper policyholder”, the approach of Spanish legislation – Law 50/1980, of 8 October 1980, on Insurance Contracts (“LCS”) and the attempts to reform it – and the stance of the Spanish regulator, the Directorate General of Insurance and Pension Funds (DGSFP), regarding this particular scenario where the policyholder, usually a legal entity, takes out a group insurance policy on behalf of others, with the insured being a group defined by a common characteristic, such as employment in a company, membership of a professional association or clients of the policyholder itself.
The entire content of the Legal Briefing can be found in the PDF.