We are a full-service provider and partner to the insurance industry for all aspects of insurance contract law and insurance supervisory law.
Both national and international insurance companies benefit from our niche competences: from designing products for the various insurance sectors and drafting specific and general insurance terms (wordings), to the evaluation of questions of liability and coverage, representing insured parties in liability disputes (at the request of the insurer) and mounting a defence as part of coverage disputes. Our team boasts an outstanding core competence in claims monitoring for major loss events.
We regularly advise our clients from the insurance- and reinsurance sectors on questions of insurance supervisory law and how to comply with regulatory requirements. This could be the case when breaking into new markets and business areas, or if changes are made to the Austrian or European legal frameworks – as was recently the case with the EU Insurance Distribution Directive (EU) 2016/97 (“IDD”).
Our clients also leverage our know-how in relation to the supervision of the insurance industry by the Austrian Financial Market Authority (FMA). It is important to keep the regulatory framework in mind when designing products and distribution channels – and we have the industry-specific knowledge you need.
Our expertise includes:
- Financial Lines/Specialty Lines (D&O, E&O/FIPI, prospectus liability/POSI)
- Cyber-Risk and Cyber-Crime (third party liability / first party loss / business interruption)
- Financial loss/professional indemnity (doctors, financial service providers, auditors,
- tax consultants, lawyers, architects/civil engineers)
- Industrial claims – third party liability and first party loss insurance
- Product Liability
- Warranty & Indemnity Insurance (W&I), Transactional Risk Insurance (TRI), M&A-Versicherung
- Crime insurance
- Criminal legal expenses insurance
- Environmental liability/damage insurance
- Credit and guarantee insurance
- Yacht hull insurance, yacht third party liability insurance
- Motor vehicle third party liability, legal expenses insurance