Complaint and Dispute Resolution

Any customer or creditor of ABLV Bank, AS in liquidation (hereinafter – the Company), as well as any interested person has the right to turn to the Company with verbal or written applications, complaints and suggestions in accordance with the procedures specified in the legislation.

Costumer complaints, which relate to the operation of the Company as an insurance agent, are reviewed in the order described in the section Review Process of Complaints about ABLV Bank, AS in Liquidation as an Insurance Agent.

The review procedure of ABLV Asset Management, IPAS costumer complaints, suggestions and applications is described in the sub-section Review Process of ABLV Asset Management, IPAS Costumer Complaints, Suggestions and Applications found under the section Investments.

All complaints addressed to the Company can be submitted in the following ways:

  • in person by visiting the Company’s office — Building 1, 7 Skanstes Street, Riga, LV-1013, Latvia;
  • in writing by post to the Company’s office — Building 1, 7 Skanstes Street, Riga, LV-1013, Latvia;
  • via the Internetbank;
  • via e-mail: info@ablv.com;
  • by calling the Client Line: +371 6777 5555.

A written complaint submitted personally or by post has to contain the complainant’s signature.

A written complaint has to contain the following information:

  • addressee of the complaint — ABLV Bank, AS in liquidation;
  • identification information of the complainant:
    - for natural persons – name and surname;
    - for legal entities / other organizational structures — company name, position, name and surname of the authorized person;
  • customer code or account number of the complainant (if the complainant is a customer of the Company);
  • the lodged claim, the claim subject and conditions constituting the grounds for the claim. If possible, documentary evidence supporting the grounds for the claim should be attached;
  • payment method for the compensation (for financial compensation claims);
  • preferred manner of receiving a response to the complaint — in the Internetbank, by post (postal address should be provided);
  • date and place of preparation of the complaint.

The Company reserves the right to dismiss a received complaint if the abovementioned mandatory information is missing.

The Company also reserves the right to request information and documents evidencing the legal capacity of the complainant.

The Company strives to resolve verbal complaints at once. However, if that is not possible, the Company reserves the right to request the complaint to be submitted in a written form.

The terms of submitting the complaints and the procedure for considering those are set forth in the following documents:

The Company performs identification of the complainant and its representatives in accordance with provisions of normative acts of the Republic of Latvia and the Company’s requirements. The complainant must supply the Company with the requested information and documents evidencing accuracy of the provided information.

The Company provides a reply to the received complaints within 30 days from the day of its receipt, after having received and reviewed all the relevant proof and information. If, due to objective reasons, it is not possible within this term, the Company has the right to extend it, notifying the complainant about it in writing.

In case the complaint relates to potential infringement of consumer rights, the complainant and the Company’s relations are solved in accordance with the legislation in the field of consumer protection.

If the Company’s response does not satisfy the claim stated in the complaint, it can be appealed to the following independent institutions:

Ombudsman of the Association of Commercial Banks of Latvia, if the complaint falls within the competence of the Ombudsman in accordance with the respective regulations. Detailed information on the Ombudsman and the procedure of handling complaints can be found at ACBL webpage;

an out-of-court consumer dispute resolver, if such is established in the respective field, regarding violations of normative acts governing consumer rights protection (including cases related to investment service rendering), if the complainant is considered a consumer, as defined in the Consumer Rights Protection Law. Detailed information on the out-of-court consumer dispute resolvers and the list of those are available at the website of the Consumer Rights Protection Centre;

Consumer Rights Protection Centre, regarding violations of normative acts governing consumer rights protection (including cases related to rendering of investment services), if you are considered a consumer, as defined in the Consumer Rights Protection Law. Detailed information on the Consumer Rights Protection Centre and the procedure of submitting complaints is available at the website of the Consumer Rights Protection Centre;

Financial and Capital Market Commission. Detailed information on the procedure of complaint submission to the Financial and Capital Market Commission is available at the webpage of the Commission.

pursuant to Latvian normative acts, all civil disputes fall under court jurisdiction. Civil disputes, discords or claims arising from mutual business relations between the complainant and the Company, their breach, termination, legality, validity or interpretation, must be submitted for resolution to the courts of the Republic of Latvia.

The operation of the Company is supervised by the Financial and Capital Market Commission, address: 1 Kungu Street, Riga, LV-1050, Latvia. In instances stipulated by law, the Company is obligated to notify the Financial and Capital Market Commission of the received complaints, as well as disclose the identity of the complainant.

In the area of compliance with consumer protection laws and regulations, the operation of the Company is supervised by the Consumer Rights Protection Centre, address: 55 Brivibas Street, Riga, LV-1010, Latvia.

Review Process of Complaints about ABLV Bank, AS in Liquidation as an Insurance Agent

The ABLV Bank, AS in liquidation (hereinafter — the Company) ensures quick, equal, fair and efficient review of Customer complaints regarding insurance distribution that is performed in the name of the Insurance Merchant by the Company as an insurance agent. A Customer is a person who has the intention to conclude an insurance agreement (insurance applicant), policyholder, the insured, a person who has the right to claim insurance indemnity or a representative of the aforementioned persons.

Information on the procedure of how potential complaints and disputes between the Customer and the Company will be reviewed out of court can also be found at:

  •  the websites of the Insurance Merchants:
    ERGO 
    BTA
    SEESAM

  • the office of any corresponding Insurance Merchant or the Company.

Complaint Submission

If discord has arisen between the Company and the Customer, and the Customer wishes to make a claim regarding insurance distribution performed by the Company as an insurance agent, the Customer can submit a complaint to the Company in a written form in person or:

  • by post, sending it to:
    - the Company to the address: Building 1, 7 Skanstes Street, Riga, LV-1013;
    - ERGO Life Insurance SE Latvian branch to the address: 50 Skanstes Street, Riga, LV-1013, Latvia;
    - AAS BTA Baltic Insurance Company to the address: 11 Sporta Street, Riga, LV-1013, Latvia;
    - Seesam Insurance AS Latvian branch to the address: 1 Muitas Street, Riga, LV-1010, Latvia.

  •  by e-mail, sending it to:
    - the Company to the e-mail address: ablvinsurance@ablv.com;
    - ERGO Life Insurance SE Latvian branch, with indication “Complaint”, to the e-mail address: info@ergo.lv
    - AAS BTA Baltic Insurance Company to the e-mail address: bta@bta.lv;
    - Seesam Insurance AS Latvian branch to the e-mail address: info@seesam.lv.

The Customer must include in the complaint at least the following information:

  • information regarding the complainant:
    - for natural persons: name, surname, personal identification number, postal address, e-mail address, contact number (for natural persons – non-residents: if a person does not have a personal identification number, passport details and place of residence must be provided);
    - for legal entities: name, registration number, legal address or other address, corresponding to the actual location of the legal entity, position, name, surname, contact number and e-mail of the representative;

  • date and place of preparation of the complaint;
  • type of insurance, insurance policy number, reason and essence of the complaint, its supporting facts and circumstances, list of attached documents;
  • a written complaint must be signed.

Complaint Consideration and Response

Upon receipt of a complaint regarding insurance distribution, the Company immediately, but no later than 7 days after the receipt of the complaint:

  • forwards the complaint to the corresponding Insurance Merchant, in the register of which the Company is listed;
  • informs the complainant in writing regarding the forwarding of the complaint to the corresponding Insurance Merchant, who will provide a reply to the complainant.

If the Company receives a complaint regarding a different market operator, not relating to insurance distribution performed by the Company as an insurance agent in the name of the Insurance Merchant, the Company forwards it to the market operator and informs the complainant about it within 7 days from the day of the complaint’s receipt.

To prevent a conflict of interest, the response is provided by the respective Insurance Merchant, not by the Company, thus ensuring that persons, whose objectivity may be questioned, does not participate in the complaint handling process.

All received complaints are reviewed free of charge.

A response is provided only if the person, who has submitted the complaint, can be identified without doubt, that is, all the data mentioned above has been included in the complaint.

The Insurance Merchant responds in Latvian, or, upon agreement with the complainant, the response can be provided in English or Russian.

Upon receipt of a complaint, the Insurance Merchant:

  • registers it in the Insurance Merchant’s Complaint Register, following the complaint registry and information storage requirements set forth by the normative acts in force;
  • depending on the contents of the complaint, determines the competent employee that is responsible for the review of the complaint and examination of the stated facts;
  • carries out examination of the facts outlined in the complaint:
    -compiling and checking all the relevant proof and information relating to the complaint;
    - if necessary, requesting additional information and documents about the outlined facts and circumstances from the complainant and / or the Company;

  • provides the complainant with a justified written reply within 20 days from the day the complaint was submitted to the Company, informing the complainant also about other complaint consideration options if the provided reply does not satisfy the claims made by the complainant.

If due to objective reasons, it is not possible to meet the above-mentioned 20-day deadline, the Insurance Merchant sends the complainant information, justifying the need to extend the response deadline and providing a reasonable term for when the reply will be provided.

Upon the request of the complainant, the Insurance Merchant provides information (in paper of electronic form) about the complaint consideration process.

If a Customer is not satisfied with the received reply to their complaint, the Customer has the right to turn to the following institutions:

  • Ombudsman of Latvian Insurers Association;
  • Financial and Capital Market Commission;
  • Consumer Rights Protection Centre;
  • Motor Insurers’ Bureau of Latvia;
  • To resolve disputes, disagreements or claims arising from a complaint – court of the Republic of Latvia.