Insurer Novis lost its license

The central bank NBS revoked the license of insurer Novis (Siegfried Fatzi, Rainer Norbert Alt, and Michal Knap). As of Monday, the insurer cannot carry out insurance business, in particular sell new policies. Existing contracts remain valid. NBS will file a petition to the court to liquidate the insurer, but wants to ensure that the claims of clients and creditors are met. The reason for this is the insurer's imprudent practice in selling policies, which has damaged clients’ interests. It misled clients on investment insurance products. The insurer also failed to comply with solvency and capital adequacy criteria. It offered products in several EU countries and its regulator was the NBS.

(trend.sk)