Industry Insights
Our Industry Specialists offer market insights and analyses about new developments in the insurance industry.
EU sanctions prohibit any direct or indirect economic interactions (prohibition of payment and provision of services) with listed persons, as well as with all companies in which a listed legal entity or natural person has an ownership interest of 50% or more.
Since Ukraine has declared to be in war and air space has been closed in Russia and Ukraine, the risk exists that evacuations and return flights to the home country for medical reasons cannot take place.
In addition to this general exclusion referring to damage occurred, there exists clause LSW617 that restricts the validity of cover itself: there is generally no cover for various named high-risk and existing crisis and war zones.
In view of the current developments in Ukraine and the unforeseeable consequences, the private credit insurers are not providing any new or additional cover on Russian and Ukrainian buyers for the time being.
It is a principle of insurance that due to the potential accumulation of claims there is a general exclusion of damage caused to a risk (buildings, factories, their technical equipment, installations, stocks and other contents) in connection with war and civil war.
Differences between the Eastern European countries and the rest of Europe are also disappearing in insurance.
Forestry insurance is still undervalued but can be a really good tool to reduce losses in the wood-processing supply chain.
Neobanks are trying to bridge the gap between the offerings of traditional banks and the expectations of customers in this digital era.
An overview of taxes, levies and other charges for policyholders in CEE countries.
Company News
Read about new developments, initiatives and business decisions in the GrECo Group.
We are delighted to announce that GrECo’s Estonian subsidiary, IIZI Group has recently started a new cooperation with Estonian financial technology service provider, HOOVI Rntal OÜ.
The impacts, risks, and opportunities we’ve identified are presented without considering the positive or mitigating effects of actions that GrECo has already implemented.
The insurance guarantees Bregenzer Festspiele’s customers a full refund for the ticket price should they be unable to attend the event.
Germinas Dauksa, our Group Practice Leader Transport and Logistics, caught up with Kiril Petrov who leads Transport and Logistics insurance in GrECo Bulgaria.
The Annual report focuses on different aspects of our company and highlights our risk-based approach.
We developed Empowering Excellence @ GrECo as a cross-border programme capitalising on the vast knowledge and skill sets of our existing workforce.
In this interview Ante Banovac discusses the company’s commitment to employ the very best talents, their recent people investments in GrECo CZ, and the benefits of working with them.
Headquartered in İstanbul, the team at GrECo Türkiye is committed to a client-centric service approach and specialises in sectors such as Health & Benefits, Property, Financial Institutions & Financial Lines, Liabilities, Transportation & Logistics, and Energy.
One of the teams that we are proud of is our Financial Lines group. Each of its members has a different story about how they got into insurance, what they value about the industry and what was their childhood ambitions.
Petra Steininger
Head of Group Communications
T +43 5 04 04 – 175