Law Applicable to Large Risks Insurance Contracts

In European private international law, the key source of the choice-of-law legislation on large risks insurance is currently the Rome I Regulation. The legislation contained in Article 7 (2) of the Rome I Regulation constitutes a compromise solution that builds on the legislation originally contained in the 1980 Rome Convention on the Law Applicable to Contractual Obligations and in the national legislation of the Member States harmonised by EU directives. Although there are disputed questions of interpretation in relation to the legislation contained in Article 7(2), it is a solution-driven by the desire to unify European private international law and to avoid within the European Union the complications associated with the application of the complex choice-of-law legislation contained in national laws and international treaties.