Parliament approved a new law on insurers that draws on post-crisis market and regulatory experience and transposes European Union directives into national rules, MTI reported today.

The law gives clients cancellation rights for 30 days from the signing of life insurance policies longer than six months.

Hungary's governing party Fidesz has a two third majority, with 116 MPs, allowing the party to pass laws with every other parties voting against or staying in abstention. Read the full story HUNGARY: Insurance law passed by Parliament