The High Court has set out the principles that apply to the construction of questions in an insurer’s automated online underwriting system and the circumstances in which an insurer’s questions may lead to waiver of the right to be told about certain information. In this case, the Court considered the construction and scope of the insurer’s standard question concerning previous insolvencies, and held that the wording used waived the insurer’s right to be told about other insolvency events not caught by the question.

Background

On 1 January 2021, an Amendment to the Czech Act on Business Corporations came into effect, which introduced changes in the area of corporate governance. These include changes to the liability of statutory body members in case of corporate insolvency, and changes to the conditions for disqualification of statutory body members from the performance of their office or from serving as shadow directors.

Liability of statutory body members in the event of corporate insolvency