25/03/2025
Finantsinspektsioon decided on 16 December to remove the insurance broker Vagner Insurance Broker AS (register code 10174793) from the list of insurance brokers as it found that the company had committed serious faults.
Finantsinspektsioon found that Vagner Insurance Broker AS had hindered the work of state supervision and provided insurance and mediation services in Ukraine in contravention of the law and without permission from Finantsinspektsioon.
Vagner Insurance Broker AS may no longer act as an insurance broker or market insurance contracts. The removal of Vagner Insurance Broker AS from the list of insurance brokers does not affect the validity of the insurance contracts it has intermediated, and they remain in force. Finantsinspektsioon recommends that the parties to insurance contracts agree on any changes needed to them in order to ensure the service keeps functioning smoothly in future, for example by sending invoices to policyholders if Vagner Insurance Broker AS has previously helped with this.
Vagner Insurance Broker AS was removed from the list of insurance intermediaries in accordance with § 190(3)2) and 3) of the Insurance Activities Act. The insurance broker has the right to appeal the decision of Finantsinspektsioon at the Tallinn Administrative Court within 30 days of notification of the decision.
The list of insurance brokers can be found in the register of market participants on the Finantsinspektsioon website.