Posts tagged #life insurance
All PostsOGH on Insurance Interest: Watch What You Claim!
Civil LawSubsequent 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...
OGH on Legal Capacity and Mental Illness
Civil LawA person has legal capacity if they can appreciate the scope of a particular transaction and the consequences of their actions, and act in accordance with that understanding. The plaintiff had taken out a life insurance policy with the defendant insu...
BMJ adjusts late withdrawal for life insurance policies
Civil LawThe 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...
OGH: Consequences of late withdrawal from a life insurance
Civil LawThe Austrian Supreme Court (Oberster Gerichtshof, OGH) decided that Section 176 para 1 of the Insurance Contract Act (Versicherungsvertragsgesetz, VersVG) is contrary to EU law if it provides the same legal effects for the withdrawal from an endowmen...
OGH: On the right to withdraw from life insurance policies
The beginning of the period for the withdrawal from life insurance policies may be made dependent on the receipt of certain documents. These documents must be delivered at the latest with the policy and the policyholder must not have any doubts about...
UPDATE: OGH on the problem of interest on remuneration after withdrawal from contract and cases of "substantial" reduction of the claim due to the three-year limitation period
In a number of proceedings, the courts have dealt with the withdrawal from insurance contracts due to failure to provide information about the right of withdrawal. In particular, the question of the interest on remuneration to which the policyholder ...
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