customer protection in case of insolvency
For the protection of policyholders is governed by the bankruptcy of an insurance company in Liechtenstein by law to treat that erstranging liabilities to customers who-the.
Bankruptcy Ordinance applies to Liechtenstein law, the investment oversight of the insurance policy as a special out-th power (Art.59a ISA and Article 45 of the Bankruptcy Code) and is therefore especially in the bankruptcy case the insurance secured. This means that creditors of the Quantum Life who are not policyholders in the event of a bankruptcy would have no claim on the assets of the insurance policies.
details on this topic please refer to our contract information (Item 4 Special provisions for the bankruptcy), under www.gesetze.li or may directed be-based insurance firm in the Liechtenstein:
government office (RK), Städtle 49, PO Box 684, grant
9490 Vaduz +423 236 60 35, Fax +423 236 / 65 97, Email info@rk.llv.li
Government control and supervision
For this protection, the law states that the regulatory authorities in reviewing must-sen, the insurance companies have put aside enough reserves for insurance policies, to fulfill their obligations. Quantum Life is subject to the Liechtenstein Financial Market Authority (FMA). This will ensure that insurance companies fulfill their obligations and meet its solvency.
more information on Financial Market Authority Liechtenstein, visit www.fma-li.li.
laws Excerpt 59a Versicherungsaufsichtsgesetz
A. Special provisions for the bankruptcy
Article 59a
settling insurance claims
1) The assets representing the technical provisions are in bankruptcy, a special mass Article 45 of the Bankruptcy Code to satisfy the insurance requirements. The Court shall arrange that the list of the special mass dedicated to values \u200b\u200bimmediately completed and the supervisor will be sent. The supervisory authority must establish the special mass for the date of the bankruptcy. Returns and income from the special mass dedicated assets and premiums for the companies included in the special mass insurance contracts received after the opening of bankruptcy proceedings fall into this special mass.
2), submitted under Section 1 must list the commencement of insolvency proceedings can not be changed amended. Technical corrections in the registered assets may make the Mass Ever-walter, with the approval of the bankruptcy court.
3) If the proceeds from the sale of assets less than their estimated value in the list submitted under paragraph 1, the liquidator must inform the bankruptcy court and the deviation to justify monitoring.
4) Where insurance claims from the special mass will not be satisfied in full, they belong to the bankruptcy claims of the first class (Article 48 of Bankruptcy Act).
5) are from the books of the insurance company detectable insurance claims as filed. The right of the creditor to file these claims remains unaffected. Filing of claims does not specify to include the ranking
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