Key Case on Insurance Premium Adjustments

Rokas Law Firm Wins Key Case on Insurance Premium Adjustments

Rokas Law Firm has successfully represented one of the leading insurance companies in Greece in a dispute concerning an action filed by an insured seeking reimbursement of the excess premiums paid in previous years up to the date of the initiation of the legal proceedings as well as the declaration of the invalidity of the clause providing the adjustment of premiums for the health insurance program. This is a rather controversial matter in Greece, especially when it comes to the protection of consumers.

The Court examined the validity of a pre-formulated insurance clause concerning the adjustment of premiums in a long-term health insurance policy based on the provisions of Law 2251/1994 and finally accepted that the parameters and conditions for calculating the yearly insurance premiums included in the contested insurance clause were specific, clear, and non-ambiguous and as such constituted a sufficient and permissible ground for a unilateral premium adjustment.

As our firm successfully claimed, the premium adjustment criteria provided for in the insurance contract were based on objective factors and actual data and figures of private health insurance. As a result, the Court decided in favor of the validity of the clause and the premium adjustments on annual basis carried out by the insurance company for the specific policy.

This decision is particularly important as it affects an unlimited number of insurance contracts that either contain this particular premium adjustment clause or contain similar criteria in premium adjustment clauses.

Our legal team included Partner Christos Theodorou alongside Associate Xenia Lymperopoulou.

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