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Frequently asked questitons about CEE Specialty s.r.o.

Is CEE Specialty an insurance company?

  • No, CEE Specialty is not an insurance company, but underwriting agency, commonly known in the insurance industry as an 'MGA'. According to Czech legislation, MGA falls under the category of independent intermediaries, under IDD Law.

What is an MGA?

  • MGA is an abbreviation for "Managing General Agent" and is a specific type of insurance agent that has been delegated as "competence" (underwriting authority) and can conclude insurance contracts as well as other related activities on behalf of the insurance company that delegated the underwriting authority.

Is CEE Specialty a Czech or foreign company?

Who is the owner of CEE Specialty?

  • The majority owner is KOM-EKO Holdings S.A. based in Luxembourg and owned by Royalton Capital Investors II, whose investors amongst others include the European Bank for Reconstruction and Development (EBRD) and the European Investment Fund (EIF). 

Is CEE Specialty competition for insurance brokers?

  • No, on the contrary CEE Specialty sources business from and negotiates insurance policies through insurance brokers. In this respect, we behave like an insurance companies, with the difference that insurance brokers are the exclusive distribution channel for CEE Specialty.

On whose behalf does CEE Specialty underwrite?

We act on behalf of large and reputable international insurers; specifically:

  • Lloyds of Brussels
  • HDI Global Specialty SE (Swedish branch) – rating A+ by Standard & Poor's and A (Stable outlook) by A.M. Best / they are a joint-venture company founded by Hannover Re and HDI Global SE.
  • Historically also Argo Global SE - parent company Argo Group International Holdings Ltd. is listed on New York Stock Exchange.

Can insurance companies, for whom CEE Specialty underwrites operate in the Czech Republic?

  • Yes, they can operate in the Czech Republic and are listed in the list of foreign insurance companies and branches of insurance companies providing cross-border services in the Czech Republic at CNB.

To whom does the client (policyholder) or a collecting broker pay the premiums for the insurance policies underwritten by CEE Specialty?

  • Premiums will be paid to the account of CEE Specialty, which has separate banking accounts for individual partner insurance companies and for individual types of insurance. CEE Specialty then forwards the collected premiums to banking accounts of foreign partner insurance companies monthly.

It is common for foreign insurance companies to apply relatively high minimal premiums. Does this also apply to insurance offers through CEE Specialty?

  • No, we do not have any minimum premiums.

In which language are insurance contracts and offers available at CEE Specialty?

  • Insurance contracts and offers are of course in Czech. However, we can prepare a Czech-English version on a client's or broker's request. Marine policies, including cargo, are generally issued in English.

What types of insurance do you offer?

  • Currently, CEE Specialty offers all lines of liability insurance (GL, PL, PI including IT and MedMal, D&O) and marine insurance. During February 2020 we will also start offering property insurance, CAR/EAR, Cargo and Cyber insurance.

Do you also offer insurance for retail customers (individuals)?

  • No, CEE Specialty arranges insurance cover exclusively for corporate clients (including authorized persons).

How will claims be handled?

  • CEE Specialty has a license to perform the activity of an independent claims adjuster and is entitled to resolve claims independently, resp. in cooperation and under the supervision of contractual insurance companies.
    Reporting of insurance claims is mentioned in insurance contracts, where it will be described exactly where to report the insurance event. CEE Specialty and its partner insurance companies have access to extensive networks of claims correspondents outside the Czech Republic.
    The insurance benefits will be paid directly by the partner insurance companies or on their behalf by the Underwriting Agency, which has set up separate accounts for this purpose.

What if I have a complaint about CEE Specialty?

  • Questions and complaints will be forwarded to CEE Specialty s.r.o. to these contacts:
    Address: Francouzská 121/28, Vinohrady, 120 00 Prague 2
    Data box identifier: s7yxcqy
    Managing director: Tomáš Maršálek
    Tel .: +420 725 73 11 99
    Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
    Customers, policy holders or other entitled persons may send complaints in writing to CEE Specialty s.r.o., which is obliged to immediately forward the complaint to the insurer for settlement. The complaint will be dealt with as soon as possible, in most cases within 30 days from the date of receipt. In case of dissatisfaction with the settlement of the complaint, it is possible to contact the Czech National Bank (Na Příkopě 28, 115 03 Prague 1), which is the insurance supervisory authority in the Czech Republic.