Regulatory Alerts2021-08-17
Added · Updated
Life Insurance Information Requirements Regulation 2018
The Austrian Financial Market Authority issued this regulation to establish minimum information disclosure standards for life insurance undertakings under the Insurance Supervision Act 2016. It mandates detailed pre-contractual and annual reporting on product features, costs, guarantees, and specimen calculations, with specific provisions for classic, investment-oriented, and unit-linked policies. The rules ensure policyholders receive clear, comparable data regarding investment risks, profit sharing mechanisms, and the non-binding nature of projected returns.
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