SPECIAL BANKRUPTCY REGIME FOR INSURANCE COMPANIES

In this paper, the author analyzes the legal regime of bankruptcy for in surance companies under Serbian law. At the beginning of the paper, domestic and foreign legal sources relevant to this topic are presented. It highlights that the application of a special legal regime for bankruptcy of insurance companies is justifi ed and common in comparative law. The author notes that the terminology used in domestic laws is inadequate and that incorrect terminology leads to dilem mas regarding the determination of subjects under the special bankruptcy regime, which is addressed in the following section of the paper. Regarding the dilemma of whether the special legal regime also applies to reinsurance companies, the author provides an affi rmative answer. After presenting statistical data that clearly indicate the need for improvement in the legal framework, the paper analyzes solutions related to the function of the bankruptcy administrator in bankruptcy proceedings involving insurance companies. The paper concludes with recommendations on how to improve the current solution for performing this function.

Keywords: bankruptcy, insurance companies, reinsurance companies, Deposit Insurance Agency.