KIAP, Attorneys at Law, helped the largest Russian reinsurance company to prevent an attempt to illegally claim a premium of more than 300 million roubles under the obligatory reinsurance contract.
The reinsured applied to the Moscow Arbitration Court with a demand to terminate the obligatory reinsurance contract and return the entire premium, believing that the reinsurer had violated its obligations to properly build up the insurance reserves and jeopardized the interests of the original policyholders.
Having joined the case at the stage of cassation, the KIAP lawyers have been able to suspend the execution of the judicial act preventing the write-off of funds in favour of the insurance company, which has ceased insurance activities at the moment. Upon a new examination, the Defendant managed to prove that the Claimant had no grounds either for termination of the contract in court or for recovery of the premium. the Moscow Arbitration Court refused to satisfy the claim in full.
The significance of this project concerns not only the interests of the Defendant, who prevented an attempt to illegally refund the premium paid, but also the insurance market as a whole, since the court pointed out the inadmissibility of inconsistent behavior of the parties and arbitrary interpretation of reinsurance conditions.