The law firm GIACCARDI & BREZZO Avocats assists insurance companies, businesses and individuals, including:
• Assistance in obtaining authorizations and carrying out insurance activities in Monaco
• Professional indemnity
• Accidents at work
• Bodily injury
• Traffic accidents
• Assistance for expertise
Monegasque insurance law
The Monegasque insurance law is mainly governed by : Law No. 129 of 22 January 1930 on the duration of insurance contracts; Law No. 609 of 11 April 1956 codifying the legislation on taxes due by insurance companies; Implementing Ordinance No. 3.041 of 19 August 1963 giving effect in Monaco to the Convention signed in Paris on 18 May 1963 on the regulation of insurance; Implementing Ordinance No. 4.178 of 12 December 1968 instituting State supervision on insurance undertakings of all types and on capitalization undertakings, and organizing the insurance industry.
The law of the Principality shares a common basis with the French law. It presents however some fundamental differences.
Collected taxes on insurance contracts, guarantees, contract arrangements of work-related risks, rates on additional health contracts are inter alia governed by national specificities.
As Monaco is not a member of the European Union, the free provision of services does not apply.
In this particular framework, a good knowledge of this case law and our experience in litigation enable us to support our clients in the most efficient ways when such issues arise.
A reform has recently been proposed regarding the right to be forgotten in relation to bank loan insurance (Bill No. 251 submitted to the National Council on 10 May 2021).