Regulation of the Insurance Market: Has the Latest Version of the Law of Ukraine «On Insurance» Changed the Approaches to Accessing Human Genetic Data for the Evaluation of Insurance Risks?

The article examines the provisions of the Law of Ukraine «On Insurance» that are most relevant to regulating access to and use of human genetic data during the evaluation of insurance risks and/or determining any other terms of the insurance contract, as well as compares them with similar provisions in the previous edition of this Law. The content of the articles from both the older and newer editions of the Law of Ukraine «On Insurance», which are the most pertinent to regulating the access to and use of human genetic data during the evaluation of insurance risks and/or the determination of any other conditions of the insurance agreement, has been identified, analyzed, and compared. As a result of the research, it is found that the current version of the Law significantly expands the capabilities of insurance companies in accessing human genetic data to evaluate insurance risks during the conclusion and validity of an insurance contract. Thus, the right of the insurance company has been extended not only to request from the insured any documents necessary for evaluating the insurance risk, but also to determine the main criteria and requirements for information that is significant for the evaluation of the insurance risk. At the same time, the current Law does not provide for any restrictions on the use of genetic information (including the results of genetic research) of a person. The insured’s obligation to inform the insurer of any circumstances that are of significant importance for the evaluation of insurance risk (for example, if a person knows the result of their genetic analysis which shows the probability of developing a disease) has been expanded not only at the time of concluding the insurance contract, but also during its validity, if such circumstances have changed (for example, if the person has undergone a new genetic analysis). Prospects for further research in this area include conducting a qualitative study of the activities of insurance companies that insure life and health risks to identify and analyze practical cases (of course, if any) of the use of human genetic information by insurers for the purpose of evaluating an individual’s life and health insurance risks and/or determining any other terms of the insurance contract.