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.
In 2023, GrECo boosted revenues whilst focusing on implementing our corporate strategy.
The Associated Alliance collaboration with GrECo strengthens our ability to provide comprehensive solutions to our clients’ insurance, risk management, and employee benefits needs in the Middle East.
We are excited to announce the release of the 3rd Horizon Risk Thought » Fast Forward publication!
Our heterogeneous workforce is international and comprises men and women from different generations, professions and educational backgrounds.
With the new embedded insurance solution, all Viena saskaita customers are now insured with Payment Protection Insurance.
“While sales and acquisitions are inherently exciting, they require a clear strategy and methodology, coupled with patience due to potentially long buying cycles. The challenge lies in maintaining patience throughout the process.” – interview with Preslava Gencheva, new Strategic Sales Manager at GrECo Specialty.
“After five years of working in our Group, I would say that our people and our culture make GrECo a unique place to work. One is surrounded by experts and the best talent in the risk and insurance industry gives everybody the feeling that nothing is impossible.” – interview with Markus Neubrand, our new Head of Mergers & Acquisitions.
“We see the enormous growth potential of Health & Benefits in our region, and we aim to strengthen our value proposition in that area. ” – interview with Ewelina Jaworska-Bien, our new Health & Benefits Group Practice Leader.
With our client survey on the various environmental, social and governance topics, we wanted to find out where companies currently stand on ESG.
Petra Steininger
Head of Group Communications
T +43 5 04 04 – 175