Greek Business Law
A Handbook for Businesses and Legal Practitioners
XV
Table of Contents
13. Insurance
.........................................................................................................................................................58
13.1. The private (re)insurance regulatory framework
......................................................................58
13.2. Non-admitted (re)insurance
.................................................................................................................58
13.3. Consequences of a non-admitted (re)insurer covering risks in Greece
.......................59
13.4. Requirements for granting license to an insurer in Greece
................................................59
13.5. Requirements for granting a license to a reinsurer in Greece
...........................................59
13.6. Procedure for the grant of license regarding the conduct
of (re)insurance business
........................................................................................................................60
13.7. Requirements for the provision of (re)insurance cover by non-Greek
(re)insurance undertakings
...................................................................................................................60
13.8. Solvency requirements of (re)insurance undertakings
.........................................................60
13.9. Insurance insolvency winding-up proceedings
........................................................................61
13.10. Requirements regarding the conduct of insurance business
in Greece by EU/EEA (re)insurers
.....................................................................................................61
13.11. Insurance mediation
..............................................................................................................................62
13.12. Types of insurance intermediaries
..................................................................................................62
13.13. Prerequisites for undertaking insurance mediation business in Greece
..................63
13.14. Minimum statutory/regulatory context of an insurance contract
...............................63
13.15. Statutory/regulatory requirements for the protection of the policyholder
...........64
13.16. Insurer’s right to revoke cover
..........................................................................................................64
13.17. Principles regarding multiple insurance
.....................................................................................65
13.18. Principles regarding under/over-insurance
..............................................................................65
13.19. Filing a direct action against the insurer by a third party
.................................................65
14. Bankruptcy and Insolvency
.............................................................................................................66
14.1. Reorganization and insolvency regulation
..................................................................................66
14.2. Conditions for the initiation of insolvency procedures
........................................................66
14.3. Commencement of rehabilitation process
..................................................................................67
14.4. Bodies involved in the rehabilitation process
............................................................................68
14.5. Prerequisites for the official conclusion of a rehabilitation rescue plan
......................68
14.6. Mechanisms used to protect business assets in pre-bankruptcy
...................................69
14.7. The special liquidation procedure
.....................................................................................................70
14.8. Effects of bankruptcy proceedings
...................................................................................................72
14.9. Post-bankruptcy reorganization procedures
..............................................................................73
