Insurance Consumer Protection strengthened by the Romanian High Court The Romanian High Court of Cassation and Justice has settled, at the highest level, a long dispute regarding theobligation of the insurer to pay the insured amount in cases of automobile thefts where the original certificate ofregistration was inside the stolen automobile and, therefore, no longer...Read More

The insurance contract according to the new Romanian Civil Code Section 1- General provisions Art. 2199- Definition Art. 2200- Configuration and evidence Art. 2201- Insurance policy Art. 2202- Types of insurance policy Art. 2203- Notification regarding the risk Art. 2204- Inaccurate declarations or reticence on the risk Art. 2205- Lack of insured risk Art. 2206-...Read More

EIOPA-Report on Good Supervisory Practices regarding knowledge and ability requirements for distributors of insurance products   The “Report on Good Supervisory Practices regarding knowledge and ability requirements for distributors of insurance products” was drafted by the European Insurance and Occupational Pensions Authority  and published on 9th December 2013. As stated in the report (page 59),...Read More

Subsidiary Capital for MTPL a New Model for its Financing After the Law 4092-2012 By the sole article of Law 4147/1961, Greece has ratified the European Convention of Strasbourg on compulsory insurance againstcivil liability in respect of motor vehicles, MTPL Model, dated 20 April 1959. By the aforesaid ratification, the Convention has become an integral...Read More

Report on the Legal Framework of the Insurance Sector in Albania The scope of this report – by Rokas (Tirana) – is to present the legal regime framework related to insurance in the Republic of Albania, some of them follow below REGULATION The insurance sector is governed by Law no. 9267, date 29.07.2004 “On the...Read More

Report on Legal Framework of the Insurance Sector in Ukraine The scope of this report – by Rokas (Kiev) – is to present the legal regime framework related to insurance in Ukraine, some of them follow below INSURANCE AND REINSURANCE COMPANIES, BRANCH OFFICES OF FOREIGN INSURANCE COMPANIES AND DIRECT PROVISION OF INSURANCE SERVICES, WHEN APPLICABLE...Read More

Report on the Legal Framework of the Insurance Sector in Serbia The scope of this report – provided by IKRP i partneri d.o.o. Beograd (member of Rokas international network) – is to present the legal regime framework related to insurance in the Republic of Serbia, some of them follow below REGULATION Insurance Law (Official gazette...Read More

Report on Legal Framework of the Insurance Sector in Romania The scope of this report – by Rokas (Bucharest) – is to present the legal regime framework related to insurance in Romania, some of them follow below REGULATION  The main laws regulating insurance in Romania are:
Law no. 32/2000 on insurance undertakings and insurance supervision,...Read More

Report on the Legal Framework of the Insurance Sector in FYR of Macedonia The scope of this report – by Rokas (Skopje) – is to present the legal regime framework related toinsurance in FYR of Macedonia, some of them are below. 1-REGULATION Law on insurance supervision (Official gazette no. 27/02 and changes in the official...Read More

Report on the Legal Framework of the Insurance Sector in Bulgaria The scope of this report – by Rokas (Sofia) – is to present the legal regime framework related to insurance in the Republic of Bulgaria, some of them are below: 1.REGULATION Insurance Code: Commercial Act.Consumer Protection Act:  Ordinance No. 24 of 08.03.2006 on the...Read More