Austria Simplifies Cancellation Rights for Insurance Contracts | Mercer

Austria Simplifies Cancellation Rights for Insurance Contracts

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Austria Simplifies Cancellation Rights for Insurance Contracts
Austria Simplifies Cancellation Rights for Insurance Contracts
Calendar27 March 2019

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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