Consumers in the European Union (EU) are to be better protected when buying financial services on the Internet in the future. Representatives of the European Parliament and the EU countries agreed in Brussels on new rules for taking out insurance online, for example, according to a statement from the countries late Tuesday evening. According to this, consumer protection would be improved and a level playing field would be created for providers of financial services. The new rules also apply to contracts that are concluded by telephone, for example.
For example, if the provider uses an automated chat (chatbot) as an aid, the consumer should have the right to talk to an employee, according to the notice. The revocation should also be easier - for example, via a button on the website, which must be easy to find. The aim of this withdrawal function is to make consumers aware of their rights and to ensure that withdrawing from a contract is not more costly than concluding it.
In the future, this provision will apply not only to the conclusion of financial services, but to all online contracts. The EU states and the Parliament have yet to confirm the new rules. This is considered a formality.