The following topics will be covered:

Insurance science and insurance law

• Evolution of private insurance law
• Law 2496/1997 on insurance contracts
• Law 3816/1958 (art. 257-291) on marine insurance
• Law 489/76 & Presidential Decree 237/1986 on insurance of civil liability in respect of the use of motor vehicles
• Law 4364/2016: private insurance business – SOLVENCY II, as in force
• EU law on private insurance and insurance mediation

Outline of course content:

• Introduction to insurance law
• Sources of insurance law
• Law 2496/1997: insurance contract – policy
• Law 2496/1997 Articles 11–18: general provisions of insurance law on insurance of damages
• The main types of insurance of damages
• Law 3816 /1958 (Articles 257–291): marine insurance
• Law 489/1976 & Presidential Decree 237/1986: motor vehicle insurance, as in force
• Guarantee Fund and International Insurance Bureau
• Law 4364/2016: private insurance business – SOLVENCY II, as in force: legislation regulating the private insurance business (establishment and operation of insurance companies, [re-]insurance, supervisory regulations, governance requirements, technical provisions, own funds
• Insurance mediation law
• EU law on private insurance and intermediaries

INSOLVENCY LAW

• Meaning of insolvency
• Subjective and objective requirements for declaration of insolvency
• Consequences of insolvency as to debtor
• Consequences of insolvency as to creditors
• Insolvency bodies
• Segregation and insolvency assertions
• Reorganization plan
• Union of creditors
• Pre-insolvency rehabilitation proceedings

The objective of the course is to analyse and explain basic concepts and topics relating to the area of insurance law, insolvency law and capital market law. In particular, the course will provide students with knowledge of:

• the meaning and components of an insurance contract, insolvency and stock exchange transactions;
• the bodies and consequences of insolvency;
• the basic regulations governing the establishment, organization and operation of insurance businesses; and
• EU Directive 2014/65/EU (Markets in Financial Instruments Directive MiFID II).