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270 thousand Greeks have remained without third party liability auto insurances after the EIG evimaInsurance company has unexpectedly announced liquidation. The private insurance supervisory authority to the Bank of Greece has decided to revoke the licence of the company on the island of Crete, having established that EIG evimaInsurance cannot maintain an adequate solvency margin. The regulatory capital of the company does not meet the supervisory rquirements as prescribed by the law and it is unable to meet the needs of the insured persons and of any other person entitled to compensation as stated by the message of the Bank of Greece.

The company will cease to pay its obligations to its customers, suppliers and creditors from the date of revocation of the licence. The citizens using the services of EIG evimaInsurance have a grace period of one month before the cancellation of the third party liability auto insurances comes into force. Additional services such as insurances against car theft, minor damage or fire will not be paid. "For a period of one month as of 8 February, the insurances of Evima will be covered by the mutual fund of insurance companies. This applies only to third party liability auto insurances but not to additional services", says Konstantinos Bertsias who is in charge of auto insurances at the Association of Insurance Companies in Greece.

The liquidation of the insurance company will leave in the street 20 thousand employees. It has about 500 external freelance collaborators and 1,300 insurance agents. In a public announcement, the management of the company states that the decision of the Bank of Greece to revoke the licence of Evima is of dubious legality and morally unacceptable. They call the last actions of the supervisor, "the culmination of a series of illegal operations and manipulations."

According to the testimony of a female employee of the company, the supervisors entered the headquarters of the company on Friday and asked the staff to leave immediately. "We could not get our personal belongings," said the employee for Skai TV. Evima’s employees went out to protest at noon on Monday. They closed for a short while Stadiou Street in Athens in front of the company's offices to express their disagreement with the decision of the Bank of Greece.