Report on the Legal Framework of the Insurance Sector in Montenegro The scope of this report – by Rokas (Podgorica) – is to present the legal regime framework related to insurance in Montenegro, which is as follows below 1-REGULATION 2-INSURANCE AND REINSURANCE COMPANIES, BRANCH OFFICES OF FOREIGN INSURANCE COMPANIES AND DIRECT PROVISION OF INSURANCE SERVICES,...Read More

Crucial Bancassurance Issues in Romania The modality of selling insurance products in conjunction with and as collateral of banking loans i.e. the enunciation of bancassurance activity in Romania entails the following elements/aspects and legal instruments (in force): • Insurance Law no. 32/2000 as further amended; • Insurance Supervision Commission (ISC)* Order no. 10/2007 approving the...Read More

Cheque vs Promissory Note by Rokas Law Firm in Romania, Bucharest A cheque is a simple payment instrument and does not constitute a credit title. A written order on a bank directing a certain amount of money to be paid to a named person, or “to his order”, or “to him” or “to the designated...Read More

CDS & Indemnity Insurance From a legal point of view the private insurance contract in particular in indemnity insurances, and the contract of Credit Default Swaps (CDS) have a common essential characteristic: “the transfer of risk” from one person to another in return of a consideration. (Speech delivered by Prof. Dr. I. Rokas at the...Read More