Regulatory Alerts2022-06-20
FMA Regulation on Maximum Customary Burial Costs 2016
The Financial Market Authority establishes a maximum limit of EUR 20,000 for customary burial costs, explicitly covering both funeral and headstone expenses. Grounded in Article 159 of the Insurance Policy Act, this regulation initially took effect on 1 January 2016 and was subsequently updated by amendments in May 2020 and July 2022. The standardized cap ensures predictable cost coverage for policyholders while providing a clear statutory benchmark for insurance claims.
Share