Regulatory Alerts2005-01-04
FMA Circular 01/2005 on Rate Adjustments in Health Insurance Operated According to VAG 1978 Technical Principles
The Austrian Financial Market Authority (FMA) mandates that insurance undertakings must notify the regulator of any changes to actuarial bases prior to applying rate adjustments in health insurance operated under life assurance principles. The circular specifies detailed submission requirements, including electronic and written formats, and prescribes standardized data fields for premiums, benefits, and calculation parameters. These notification provisions apply to all adjustments reported from 1 July 2005 onwards to ensure efficient supervision and accurate documentation.
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