Further insurance companies' licenses revoked in Greek

On the 2nd of May 2011 the supervising regulating authority (Commission on Credit and Insurance issues of the Bank of Greece) has revoked the license of the “Eurostar Insurance Company” mainly active on vehicle insurances as this company could not satisfy the capital requirements set forth by the law. This comes only a month after the revocation of another insurance company (Europaiki Pronia) whose license has been suspended for the same reasons on March 31,2011.

Pending claims and "unused portions of insurance primes" should now be reported to the appointed liquidator or to a special State Fund that should be covering such issues. More details and action suggestions on our Greek web pages.