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Group insurance contracts – still an attractive structure for business models?
Group (or “affinity”) insurance models are well-known and widely used in the Lithuanian insurance market. They are particularly popular in the case of travel insurance, payment protection insurance and purchase protection insurance products offered by banks along with credit cards. Group insurance contracts are also commonly used for personal accident and health insurance, which employers […]
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Disputes with consumers in Lithuania: what insurers should avoid
On 28 March 2023, the Bank of Lithuania published a report on consumer disputes (the Report). In this Report, the Bank of Lithuania provided recommendations and guidelines for insurers that provide insurance services to consumers in Lithuania. The Report aims to ensure that insurers comply with legal regulations and follow best practices to prevent consumer […]
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UK insurance intermediaries after Brexit: entry to the EU market by establishing a company in Lithuania
The UK is known as the largest insurance industry in the EU and the 4th largest in the world. According to the London Market Group, over GBP 9 billion of premium is brought annually to the London Insurance Market by brokers on behalf of EU clients. So, up until now, the UK has been a leading exporter of […]