Finantsinspektsioon fined Salva Kindlustuse AS 10,000 euros

25/03/2025

Finantsinspektsioon fined Salva Kindlustuse AS (register code 10284984) 10,000 euros for presenting false information to policyholders and breaking the requirements concerning advertising financial services.

Finantsinspektsioon found that Salva Kindlustuse AS ordered adverts for third-party motor insurance from Europark Estonia OÜ (register code 10811490) between 24.10.2023 and 09.04.2024 that were in breach of the requirement in the Advertising Act that it should present the terms of financial services and the need to consult an expert if necessary. Salva Kindlustuse AS also gave holders of their motor third-party liability insurance policies the false information that the insurance agent for the contracts that were signed was Europark Estonia OÜ, which is listed as an insurance intermediary on in the list of insurance agents published on the Finantsinspektsioon website.

Finantsinspektsioon fined Salva Kindlustuse AS 10,000 euros under § 254 (2) of the Insurance Activities Act. Salva Kindlustuse AS may dispute the decision as allowed by law.

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