Zum Inhalt Zum Hauptmenü

Suchformular

Autor

The Austrian Insurance Market - a legal perspective

publiziert: 
International Reinsurance Review, 2010
Datum: 
1. Januar 2010

Several sections of the Austrian Insurance Supervision Act (VAG) were recently amended. One may highlight that a definition of insurance undertaking was finally incorporated in the VAG. Furthermore, a new form of life insurance, the capital-based life insurance was incorporated, whereby inter alia additional information duties were enacted. A ‘cool-off ’ period for executive board members was adopted as well. In addition the money laundering provisions were amended in order to comply with the Financial Acton Task Force (FATF) Mutual Evaluation Report. The regulation which allows splitting insurance carriers was altered obviously in order to allow the recent restructuring of the Vienna Insurance Group. Further, the international private law regulations for insurance contracts are now incorporated in several existing acts, especially in the International Private Law Act, instead of the former Austrian Act on Insurance International Law. The Austrian courts had a busy period over the last two years while dealing with insurance related cases. Although Austria is a rather small country there have been several major cases pending.

Für den Originalartikel klicken Sie bitte hier.

Disclaimer

Alle Angaben auf dieser Website dienen nur der Erstinformation und können keine rechtliche oder sonstige Beratung sein oder ersetzen. Daher übernehmen wir keine Haftung für allfälligen Schadenersatz.

The material contained in this website is provided for general information purposes only and does not constitute legal or other professional advice. We accept no responsibility for loss which may arise from reliance on information contained on this site.



© 2020 · DORDA · Facebookinstagramlinkedin  PODCAST

wirschaffenklarheit