Expertise in Insurance Liquidation Law
PB Legal has extensive experience in private insurance law, with particular expertise in insurance liquidation litigation.
The firm provides comprehensive legal support to insured persons and beneficiaries, aiming to effectively safeguard their rights and secure compensation for damages caused by the collapse of insurance companies.
Our legal team guides claimants through every stage of the complex insurance liquidation process, providing specialized legal advice and representation. The goal is to ensure the protection of policyholders’ legal interests against the insurance company under liquidation as well as against the Life Insurance Guarantee Fund.
Legal Support at Every Stage of the Process
The firm provides legal services at all stages of insurance liquidation procedures, including:
- filing claims of insured persons
- appeals against the list of recognized claims
- verification and recognition of claims
- legal actions against the Life Insurance Guarantee Fund
- litigation and representation in related private insurance disputes
The firm’s extensive experience and numerous successful court decisions in insurance liquidation cases ensure the provision of high-level legal services.
Significant experience has been developed in the widely known cases of the insurance companies ASPIS PRONOIA and COMMERCIAL VALUE, which constitute some of the most important insurance liquidation cases in Greece.
Provision of high standard service at the stage of claim notification, the judicial procedure of oppositions against the list of claims beneficiaries of the insurance company under liquidation, of the verification of claims and action bringing against the Private Life Insurance Guarantee Fund is guaranteed by long-term experience and numerous successful judicial cases by our Law Firm, in particular in the high- profile cases of ‘ASPIS PRONOIA’-‘COMMERCIAL VALUE’.
ASPIS PRONOIA GROUP – COMMERCIAL VALUE Cases
Socrates and the PB Legal team have represented for many years thousands of policyholders who suffered losses following the collapse of the ASPIS PRONOIA Group and specifically the insurance companies ASPIS PRONOIA AEGA and COMMERCIAL VALUE.
The firm’s long-standing engagement with the complex legislative framework governing insurance liquidation, combined with collaboration with specialized technical and insurance consultants, constitutes a key factor in safeguarding the rights of insured persons.
As a result of this experience, numerous court decisions have been achieved leading to the satisfaction of policyholders’ claims. Following these decisions, the process of interim distribution of compensation to insured persons of ASPIS PRONOIA AEGA and COMMERCIAL VALUE began in 2017.
A decisive development for the process was the activation of the compensation mechanism through the Life Insurance Guarantee Fund following the amendment of the legislative framework (Law 3867/2010 as amended by Law 4714/2020).
This development created the conditions for the effective compensation of insured persons and the completion of the insurance liquidation process.
VDV Leben International Case
By decision No. 2/5-1-2011 of the Credit and Insurance Committee of the Bank of Greece, the operating license of the insurance company VDV Leben International AEAZ was revoked and the company was placed under insurance liquidation.
Socrates and his associates represent for many years hundreds of policyholders who suffered losses following the collapse of the company, providing specialized legal services in private insurance law and insurance liquidation litigation.
The firm’s expertise in this field, combined with its in-depth knowledge of the relevant legislative framework, ensures reliable and effective legal representation.
Objective of Legal Representation
The primary objective of Socrates and the PB Legal team is the full protection of the rights of insured persons and the recovery of damages suffered through the Life Insurance Guarantee Fund.
The firm’s long-standing experience in private insurance litigation and its systematic engagement with insurance liquidation cases provide a strong foundation for effective representation and successful claims recovery.
