• Korchev Vyacheslav
    Partner practice
    Tandura Yuliya
    Contact

    Insurance, Reinsurance

    One can hardly imagine today doing business in Ukraine without adequate insurance of assets, and liabilities, and other forms of insurances. It becomes particularly urgent at the moment when the risk management is in the peak of popularity in a view of the need to ensure sustainable development of companies amidst global economic turmoil.

    Insurance is one of the risk management forms primarily used to hedge business risks. Companies are now striving to be more careful when they select counterparties and raise additional transaction security. In order to secure a transaction, more so if it is an international transaction, companies face a number of tasks requiring an expertise of dedicated experts.

    INTEGRITES lawyers form a well-coordinated team ready to provide the entire range of legal services, including those related to insurance and reinsurance. Due to their significant experience with major insurance companies worldwide, INTEGRITES experts may respond to the questions arising out of insurance and reinsurance of international transactions, give advice on how to minimize risks, and prepare recommendations to achieve the most favorable results possible.

    Given below are the core directions in which INTEGRITES renders its insurance-related services:

    • Rendering consultancy services to insurers and insured persons as related to insurance, reinsurance, and drafting respective agreements.
    • Supporting the incorporation of insurance companies, obtaining licenses, internal structuring to achieve the efficient management of insurance companies and structuring their operations.
    •  Advising on, and supporting, transactions related to insurance brokerage.

  • Projects. Insurance and Reinsurance.

    Rendering consultancy services to insurers and insured persons as related to insurance, reinsurance, and drafting respective agreements:

    • Advising insured persons on compulsory and voluntary insurances, entering into insurance agreements, paying insured amounts, franchises, protecting property interests of individuals and legal entities if an insured event occurs;
    • Providing explanations as related to accurate definition of an insured object (property interests related to the life, health, pension security, possession, use and disposition of property, insurer’s indemnification of damage caused to property and damage inflicted to a legal entity);
    • Advising insured persons on the insurance, reinsurance and financial activities related to formation, allocation and management of insurance reserves;
    • Providing explanations on such issues as restrictions applicable to services rendered by foreign insurance companies in Ukraine, and carrying out other insurance activities;
    • Drafting insurance and reinsurance agreements and other documents;
    • Supporting aircraft insurance and reinsurance, including advising on, identifying, risks and negotiating with Ukrainian and foreign insurance companies;

    Supporting the incorporation of insurance companies, obtaining licenses, internal structuring for achieving the efficient management of insurance companies and structuring their operations:

    • Preparing legal opinions related to incorporation and operating procedures of insurance companies, obtaining licenses, rendering insurance services in various areas;
    • Supporting the incorporation of insurance companies, including, inter alia, preparing constituent documents, documents required to form the authorized capital, structuring the internal management scheme, developing internal regulations, orders, minutes, and registering companies, obtaining licenses to carry out insurance activities;
    • Developing general terms and conditions for voluntary insurance (of life, against accidents, medical insurance, health insurance, insurance of railway, road, air and water transports, cargoes and luggage against natural disaster risks, insurance of property and road, air and water transport owner’s liability, loans, investments, financial risks, legal fees, medical expenses, guarantees);


    Advising on, and supporting, transactions related to insurance brokerage:

    • Advising on insurance brokerage operations by insurance and reinsurance brokers, insurance agents (advising on, preparing, entering into, and performing, insurance (reinsurance) agreements, and other brokerage services).