Financial Ombudsman – an institution established

Insurance Ombudsman (Financial Ombudsman) – an institution established to support clients in potential disputes with entities operating on the financial market.

Insurance Ombudsman

Insurance

Insurance Ombudsman helps, among others in matters related to counseling, investments, arbitration, and also provides support during court proceedings. Insurance Ombudsman has legal personality. Currently, this function is exercised by term of office for the years 2015-2019. The seat of the Insurance Ombudsman is located in Warsaw.

The Institution of the Insurance Ombudsman is in force pursuant to the Act of 5 August 2015 on handling complaints by financial market entities and on the Financial Ombudsman.

The Insurance Ombudsman is appointed by the prime minister on the application submitted by the minister for financial institutions. The RU’s term of office should last four years. One person may hold the position of the Insurance Ombudsman for a maximum of two terms.

Who can become an Insurance Ombudsman

The Act on dealing with complaints by financial market entities and on the Financial Ombudsman shows that a person who:

  • has a distinctive knowledge related to the functioning of the financial market and legal regulations that create its environment, and also has a minimum of seven years of experience in this field,
  • has a university degree,
  • can enjoy full public rights,
  • has Polish citizenship,
  • she has not been sentenced by a valid sentence for an intentional offense.

It follows from the same act that a person can not be appointed to the position of the Ombudsman:

  • occupies a different position (does not apply to research-teaching or research positions at the university),
  • belongs to any political party,
  • is a shareholder, shareholder, member of the authorities or performs the duties of a member of the management board or supervisory board of financial market entities,
  • performs other activities which are inconsistent with the Ombudsman’s duties or may give rise to suspicion about his bias or interest,
  • conducts public activity incompatible with the duties and dignity of the office.