Regulatory Alerts2021-08-17
Life Insurance Information Requirements Regulation 2018
The Austrian Financial Market Authority issued this regulation to define the minimum pre-contractual and annual information requirements for life insurance policyholders under the Insurance Supervision Act 2016. It mandates detailed disclosures regarding product features, guaranteed benefits, costs, surrender values, and risk factors, while specifying standardized specimen calculations for different insurance types. The rules further establish distinct information protocols for classic, investment-oriented, and unit-linked or index-linked life insurance products to ensure transparency and consumer protection.
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