Governance, Risk and Compliance – Austrian Insurance Industry

Date: 2016-01

“• The insurance industry in Austria is regulated by the Financial Market Authority (FMA).

• 100% FDI is permitted in the Austrian insurance industry.

• Insurance products and services in Austria are exempted from VAT.

• Automobile liability insurance and health insurance are mandatory in Austria.

• The placement of non-admitted insurance and reinsurance are not permitted in Austria except for insurance products issued by companies licensed in other EEA member states.”

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