Owner of Union HIC already paid for arbitration

Wednesday, 16. July 2014, 0:43

In late June, the owner of health insurance company Union, a Dutch company Achmea, has paid one million for loss arbitration with Slovakia. Achmea challenged Slovakia´s intention to introduce a single insurance company. Amount was nominated by the International Tribunal. Tribunal decided that because Slovakia has not introduced one insurance company yet and has not expropriated private health insurance companies, he cannot effectively decide. Achmea reciprocally expects that the Slovak Republic will pay the amount attributed to Achmea, as the decision by tribunal in the previous arbitration is also final and binding, states Achmea.