PRACTICE AREAS
Insurance
IKRP is the leading Greek firm in insurance law, having published landmark textbooks and articles on the subject in Greece and abroad. Our partners are widely recognized as being the foremost academic and litigation practitioners in insurance law in Southeastern Europe, as they advise European Union, Greek and East European authorities on the drafting of insurance laws and regularly advise foreign courts on aspects of Greek insurance law. The firm's managing partner is Chairman of the Insurance and Commercial Law Drafting Committees of the Greek Ministries of Justice and Trade, the President of the Greek Chapter of the International Association of Insurance Law (AIDA) and is a member of the Presidential Council of AIDA International.
The law on insurance policies in Greece has recently undergone the most radical changes in the last 90 years. Professor Rokas, the firm's managing partner, was the general reporter and Chairman of the Committee which drafted the new law. IKRP has been at the forefront in advising its insurance company clients on those changes, as well as assisting in redrafting their policies in order to implement the new regulations.
Our clients include life insurance companies, general insurers and reinsurers, mutuals and composites, first insurance and international reinsurance brokers. Other companies, banks and financial institutions also seek our insurance expertise. We also represent insureds such as major companies and other legal entities, as well as individual policyholders.
The firm advises on the establishment of insurance company branches in Greece and on the Freedom of Services regulations, as well as on other procedural and regulatory matters. IKRP also provides such legal services in connection with joint ventures, mergers and acquisitions, including due diligence. Furthermore, we represent insurance companies in all types of insurance policy-related litigation, as well as claims litigation, from reinsurance claims to consumer class actions against insurance companies.
Consortia led by IKRP Athens have been awarded European Commission - funded programmes, the first being a PHARE programme on the establishment and organisation of an independent insurance authority in Romania. In 2000 & in 2001, the same consortium was awarded an OBNOVA project to carry out a complete re-drafting of all insurance legislation in Bosnia and Herzegovina. Recently, IKRP, together with PriceWaterhouseCoopers and Standard & Poors, was awarded a TACIS project for the restructuring of the insurance sector of the Russian Federation.
IKRP has an insurance litigation department since 1981. The firm gained experience in insurance litigation cases and in particular has dealt with numerous disputes concerning insurance contracts, all kinds of recovery in ship, air, railway and road transport as well as MTPL cases.