Our team at GRAF ISOLA is delighted to be featured in the new Chambers Global Practice Guide 2024 on insurance disputes in Austria. In this comprehensive guide, our experts, Sebastian Mahr and Fabian Püschner, provide an in-depth insight into Austrian insurance law and the challenges involved.
Key topics include:
• Regulations on insurance disputes: The Austrian insurance contract is regulated by the Insurance Contract Act (VersVG) and the Consumer Protection Act (KSchG). We explain the processes and time limits for legal action in disputes between insurers and policyholders.
• Arbitration and alternative dispute resolution: Although arbitration is rare in mass insurance, it plays a role in specialized areas such as reinsurance.
• Current trends in coverage disputes: The impact of the COVID-19 pandemic on business interruption insurance and the increasing need for cyber insurance in the face of rising digital risks are just some of the significant trends that will continue to gain relevance in the coming years.
• Impact of macroeconomic factors: The increase in insolvencies due to the Ukraine crisis and the increasing requirements of ESG criteria are having a significant impact on the insurance industry.
Read the full article here or on the Chambers and Partners website for a more in-depth look at Austrian insurance law, its impact and current trends.
