2007
Press Releases Archive 2007
Setting the course for the future: Austrian Insurance Association appointed new Presidents
Vienna, December 12, 2007
By unanimous consent VVO boards decided yesterday evening on the VVO presidency for the period June 2008 until June 2010. Vienna Insurance Group CEO Günter Geyer and Allianz CEO Wolfram Littich will succeed current president Herbert Fichta for one year each
EU Directive: Equal Treatment of Men and Women in the Insurance Sector
Vienna, 29 November 2007
As of 01 December 2007 Austria will be obliged to implement the EU Directive 2004/113/EC regarding the equal treatment of men and women in respect of “access to and provision of goods and services”. Austria’s insurance companies are already prepared.
EU Commission confirms it: Austrians are satisfied customers when it comes to insurance!
Vienna, 15 November 2007
Austrian insurance holders are among the most satisfied customers in the whole of Europe, according to the results of a study by the EU Commission conducted in 25 countries and published in 2007.
Stormy Days
Vienna, 7 November 2007
Heavy storms are again expected over the next few days for parts of Europe and Austria. As well as the appropriate insurance protection, however, precautions also need to be taken to reduce the consequences of the weather as far as possible.
Premium-favoured provision for the future: More State promotion once again in 2008
Vienna, 16 Oktober 2007
With the raising of the State premium contribution, the success story of premium-favoured provision for the future looks set to continue.
Watch out! Animals on the road!
Vienna, 21 September 2007
Darkness is just setting in, it’s foggy, the leaves are wet, and the wild animals are starting their migrations – that’s when our roads become particularly dangerous in autumn, and when the accidents involving animals start happening. And even with collision damage insurance, the risk of running into a wild animal is something that should never be taken too lightly.
Fast, non-bureaucratic, and free of charge – Consumer information at the VVO
Vienna, 20 July 2007
The Austrian Insurance Association (VVO) has operated a consumer information unit since the early ‘eighties. Every year, thousands of people bring their general information enquiries or legal disputes to the VVO as a neutral information resource and centre of excellence in matters related to insurance.
Solvency II: New Supervisory Rules for Insurers
Vienna, 9 July 2007
The EU Directive is introducing new supervisory rules and capital resource provisions for the insurance sector; Austria is excellently prepared.
Nursing care insurance: Private care set to increase
Vienna, 5 July 2007
While the debate continues about the feasibility of a State nursing care model, the private insurance sector is already offering supplementary nursing care cover in a number of different variants. Awareness among the population as a whole of the risk with regard to the need for nursing care is still low, but the demographic development is pointing towards a drastic increase in the number of cases requiring nursing by the year 2030. Anyone wishing to invest in their future today should be thinking about securing nursing care, as well as support in their old age.
Business results for the Austrian Insurance Sector in 2006
Vienna, 5 July 2007
The national insurance sector produced another rise in premium income in 2006, but against this about 10 billion Euros were disbursed in payments to insured clients.
AMIS: Partway Victory for Legal Protection Insurers
Vienna, 25 May 2007
After lodging seven test claims so far, national legal protection insurers have scored a first partial success: The Republic of Austria as liability respondent in the matter of “Official responsibility for the Supervisory Body FMA” has resulted in the waiver of the statute of limitations in favour of the injured parties in the AMIS affair.
Dangerous motor chip tuning
Vienna, 24 April 2007
The first rays of spring sunshine after a long, dreary winter can’t help but put us in a good mood and start a new life outside our homely walls again. Now that spring has really sprung many car owners have changed their winter tyres for the summer ones, started cleaning and, in many cases, have considered “souping up” their vehicles.
Even if the faster car or motorbike are alluring the doing up of the vehicle leads to risks that most owners are hardly aware of. Only last weekend the Vienna Police executed checks and after inspection even seized several cars.
Urgent need to strengthen company pension schemes
Vienna, 23 March 2007
To ease the burden on the first cornerstone of our pension system, private pension schemes, including company pension schemes, need to be strengthened still more. The market for company pension plans in Austria currently stands at a premium volume of some 376 million Euros, putting the country among Europe’s backrunners.
The Austrian Insurance Sector 2006:Initial Balance Sheet shows moderate growth and increased claims
Vienna, March 13, 2007
Initial results for 2006 demonstrate overall moderate industry growth of around 1.9 percent, although offset by heavy burdens incurred due to claims deriving from both life and non-life insurance.
AMIS: Legal Protection Insurers fight for Injured Clients
Vienna, 20 February 2007
The hunt is on for the guilty parties in the fraud affair surrounding the financial assets company AMIS. The first claims have been lodged, and the true scale of the damage incurred is now slowly coming to light. Fortunately, a not inconsiderable number of the investors who suffered loss had legal protection insurance, and so have a good chance of recovering at least parts of the lost capital in this complicated case.
Kyrill leaves trail of damage across Austria
Vienna, 22.01.2007
The storm known as "Kyrill" left a trail of damage across Europe and also hit Salzburg, Upper and Lower Austria severely. First estimates of the Austrian insurance industry put the storm damage at around 100 million Euros.
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