Insurance
Insurance and reinsurance are building blocks of the financial market, but these activities are heavily regulated, particularly if any aspects of such activities are to be outsourced to external entities.
Aside from insurance and reinsurance companies, insurance brokers play an extremely important role in distributing the insurance products. The Polish insurance market also comprises insurance and reinsurance companies from other EU member states, which are entitled to operate in Poland without requiring any permits from the Financial Supervisory Authority (KNF), whether as branches or otherwise.
Insurance market players | Insurance companies | Reinsurance companies
Insurance brokers | Foreign insurance companies | Foreign reinsurance companies
The Financial Supervisory Authority supervises the (re)insurance industries and is authorised to license, supervise and/or impose sanctions on national entities operating on this market. The FSA also has certain rights regarding other EU state insurance and reinsurance companies which operate in Poland.
How can we help?
We advise and support numerous companies within the insurance and reinsurance sectors, include the following ways:
- Advising on the regulatory requirements and representation before the Financial Supervisory Authority as regards licensing, audits and sanctions;
- Advising on all aspects of insurance and reinsurance activities, including distribution and the delegation of management activities to third parties (outsourcing);
- Analysing the validity of insurance conditions;
- Supporting brokers to ensure their compliance with insurance distribution requirements and representing brokers before the Financial Supervisory Authority;
- Representing clients before the common and administrative courts and before the FSA;
- Helping non-Polish entities to comply with applicable Polish and EU law;
Monitoring the changing legal environment and analysing how changes impact on our clients’ business, to help clients react and stay ahead of the curve.
