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Posts tagged #late withdrawal

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OGH on Insurance Interest: Watch What You Claim!

Civil Law 

Subsequent invalidity of contractual clauses is precluded by withdrawal from a contract. This was clarified by the Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) in connection with a consumer’s late withdrawal from a life insurance po...

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BMJ adjusts late withdrawal for life insurance policies

Civil Law 

The Austrian Federal Ministry of Justice has presented a government bill to amend the Insurance Contract Act (Versicherungsvertragsgesetz, VersVG). It is now to be clarified that in the event of a late withdrawal from a life insurance policy, all pre...

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