Insurance

The Firm regularly advises clients on matters concerning P&I, hull, and cargo insurance, as well as other transport-related insurance solutions. Furthermore, our business lawyers represent insurance policyholders, foreign law firms, insurance intermediaries, and insurance companies (policy providers).

Additionally, the Firm provides guidance on liability and cargo insurance matters. Our transport specialists have successfully supported our clients' cases by preparing expert opinions for the Finnish Financial Ombudsman Bureau's Insurance Complaints Board.

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Global expertise in insurance

The majority of our insurance-related work has an international scope. As such, we leverage our Firm's extensive overseas legal network to address every aspect of our clients' cross-border transport, insurance, and dispute issues.

Our Firm is renowned for successfully managing complex insurance and recourse claims, both in and outside of court. Whether dealing with cargo damage, a recourse claim, or a defective product, we ensure our clients' rights are protected efficiently and cost-effectively in every case.

Insurances

Subject to obtaining a license from the Finnish Financial Supervisory Authority an insurance company may be established either as a limited company or as a mutual insurance company in accordance with the Finnish Insurance Companies Act (521/2008, as amended, FI: vakuutusyhtiölaki). The Act is based on corresponding EU regulation.

The Foreign Insurance Companies Act (398/1995, as amended, FI: laki ulkomaisista vakuutusyhtiöistä) regulates and is applicable to foreign insurance companies.

International aspect of insurance assignments

Majority of our insurance related work is of an international nature. Therefore, we draw on the Firm’s overseas legal network to cover every aspect of our client’s cross-border transport, insurance and dispute matters.

Our Firm is known for handling complicated insurance and recourse claims successfully before and outside the court. Whether it is a cargo damage, recourse claim or defective good, we will take care that our clients rights are protected in efficient and cost-effective manner in each case.

Dispute resolution of insurance law

Disputes related to insurance policies can be brought for resolution to either at a local District Court, or alternatively to the Insurance Board, which is an alternative dispute resolution body jointly founded by the insurance companies operating in Finland. Furthermore, for some particular types of insurance, disputes must be filed to the Insurance Court or to an average adjuster for resolution, rather than being filed to a District Court as a first instance.