Insurance Regulatory



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Rokas is at the forefront on insurance regulatory matters and has been involved in a number of projects aiming at the harmonisation of European legislation into national laws, including the laws of Greece, the Russian Federation, Romania, Serbia, Bosnia & Herzegovina (BiH). Our firm has consulted the Association of Insurance Enterprises in Greece, that of Insurance Brokers, MTPL Auxiliary Funds, and governmental agencies in several countries in Central & SE Europe: in Romania the Insurance Regulator, in Bosnia & Herzegovina (BiH) the Insurance Regulator, in the Russian Federation the Insurance Regulator and the Insurers Association, in Poland the Insurance Guarantee Fund. Our input concerned issues regarding the implementation of insurance legislation.

Rokas advises Central and SE European Governments on the drafting of insurance acts and foreign Courts on aspects of insurance law. Indicatively, the Greek Insurance Contract Act has undergone the most radical changes in the last 90 years. The name partner was the general reporter and Chairman of the Committee which drafted the new law.

Rokas has been at the forefront in advising its insurance company clients on respective changes, as well as assisting them in redrafting their policies in order to implement the new regulations.

On several occasions, consortia led by Rokas have been awarded European Commission funded programmes, such as a PHARE programme on the establishment and organisation of an independent insurance authority in Romania. The same consortium was awarded an OBNOVA project to carry out a complete re-drafting of all insurance legislation (known as «ledgi greci») in Bosnia & Herzegovina (BiH). Further, Rokas, together with PriceWaterhouseCoopers and Standard & Poors, was awarded a TACIS project for the restructuring of the insurance sector in the Russian Federation (value of funding by the EU approx. € 3.5 mio).

Insurance & Reinsurance

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