Law of insurance
Law of insurance is a set of legal regulations that govern relationships with regard to the establishment, operation and winding-up of insurance organisations and their relations with the insured persons.
Insurance relationship occurs upon entering into agreement between the insurance organisation and the insured person. The term ‘insurance contract’ is defined in article 183 of the Insurance Code, which reads as follows: “by virtue of the insurance contract, the insurer is obliged to assume a risk in return of premium payment and to pay the insured person or a beneficiary an insurance compensation or amount upon occurrence of insurance event”.
The insurance contract is bilateral, consensual, formal and aleatory contract made for valuable consideration. It is bilateral and aleatory as the insurer incurs the obligation to provide insurance protection in return of the insured person’s obligation to pay an insurance premium. Each of these obligations is a reason for counter-obligation. The contract is consensual as the consensus reached in the respective form determines the substance of the contract. It is formal due to the fact that the law requires a written form for validity – it is concluded in writing as an insurance policy or another written instrument.
Our consultations and legal services in the field of law of insurance comprise:
- Legal support in circumstances related to compulsory insurances
- Third party liability and car accidents;
- Legal aid with regard to accident during carriage of passengers in public transport;
- Consultations on occupational accidents;
- Advice on all types of insurances – compulsory and voluntary.
- Complex legal service of insurance companies and insurance brokers.
- Communication with state and municipal authorities on insurance matters;
- Procedural representation before all instance courts on any kind of insurance cases whatsoever.