Posts Tagged ‘Austria’



September 11th, 2012

Guy Carpenter Report Details European Legislative Developments for Casualty Insurance Market

Posted at 11:30 PM ET

Guy Carpenter issued its semiannual analysis of key European legislative developments affecting the casualty insurance industry. Produced in collaboration with law firm Heuking Kühn Lüer Wojtek and its network of legal experts across Continental Europe, the report, Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry, analyzes the most impactful and significant legislative changes and judicial developments across 11 jurisdictions, which include:

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April 30th, 2012

Continental European Legislative and Judicial Trends: Admissibility of Third Party Liability Insurer Paying Indemnification to Insured in Austria

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

In exceptional cases under Austrian law, a third party liability insurer may be obligated to pay an indemnification to an insured party. Such cases exist where the insured settled damages with an injured third party or where the injured third party agreed to a payment to the insured. The latter situation must be stated in a civil proceeding and has to be proven in court (OGH 30.3.2011, 7 Ob 241/10g).

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April 24th, 2012

European Countries Face Continued Challenges Adapting Local Legislation to EU Legal Requirements

Posted at 1:00 AM ET

Guy Carpenter published its semiannual report on key legislative developments in Europe affecting liability insurers and reinsurers. A number of these developments underscore the challenges in adapting local legislation and jurisprudence to European Union (EU) and international law.

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January 30th, 2012

January 2012 Reinsurance Renewal: Austria

Posted at 1:00 AM ET

With no major natural catastrophes occurring in Austria since July 2009, reinsurance rates for catastrophe excess of loss programs were generally flat to down 5 percent, with one case being down significantly more, at the January 1, 2012, renewal. In the primary market, rates were generally higher - even by as much as 20 percent for storm business. We expect original rates to flatten overall in 2012 and further decline in the motor business specifically due to continuing competition in that sector.

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November 9th, 2011

Continental European Legislative and Judicial Trends: Austrian Civil Procedure Law and Insurance Matters

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

In Austria, a third party does not have a legal interest to join an action for insurance coverage by the insured against the third party liability insurer, even when the insured is bankrupt and its liquidator has filed a lawsuit (OGH 22.10.2010, 7 Ob 178/10t).

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