Austria Simplifies Cancellation Rights for Insurance Contracts

Austria Simplifies Cancellation Rights for Insurance Contracts

Austrian law (German) on cancellation dates for insurance contracts has been simplified. From 1 Jan 2019, policyholders of all nonlife insurance contracts can cancel their policy within 14 days, increasing to 30 days for life insurance contract policyholders. Previously, five different cancellation dates applied, depending on the type of contract. 

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Alexandra Taufer-Altendorfer
by Alexandra Taufer-Altendorfer

Defined Benefit Actuarial Consultant, Mercer

Fiona Webster
by Fiona Webster

Principal, Mercer’s Law & Policy Group

Stephanie Rosseau
by Stephanie Rosseau

Principal, Mercer’s Law & Policy Group

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