Regulatory foundations and supervisory law with scope and practical relevance.
24 objects
The ATSG (SR 830.1) is the Swiss framework act that gives the federal social insurance schemes uniform definitions (illness, accident, incapacity for work, incapacity for gainful activity, disability, helplessness), a common administrative procedure, and the coordination and overcompensation rules that apply between the schemes.
The Austrian Insurance Broker Act governs the legal status, duties, and liability of insurance brokers towards their clients and distinguishes broking from the role of the tied insurance agent.
The Austrian Insurance Contract Act (VersVG) governs the private-law relationship between insurer and policyholder and is the central body of contract law for the insurance industry.
The Austrian Insurance Supervision Act 2016 (VAG 2016) governs licensing, solvency (Solvency II), and business organisation of insurers; the supervisory authority is the Financial Market Authority (FMA).
COGSA is a 1936 US federal statute governing carrier liability for cargo loss or damage on international ocean shipments, generally limiting that liability to a fixed amount per package.
FATCA is a US law requiring foreign financial institutions, including certain life insurers, to report accounts held by US taxpayers.
FIDA (Financial Data Access) is the EU regulation proposal that extends open finance to the insurance sector: customers gain a right to access their financial and insurance data, and data holders must provide it through standardised APIs.
FinDAG is the German law that establishes BaFin and governs its organization, funding, and cooperation with other authorities.
The GDPR is the directly applicable EU-wide regulation protecting personal data, of particular importance to insurers given their extensive processing of sensitive health and risk data.
The German Insurance Contract Act (Versicherungsvertragsgesetz, VVG) governs the private-law relationship between insurer and policyholder, in particular disclosure duties, conditions, increase of risk and the legal consequences of their breach, and the insurer's duty to perform.
The Insurance Supervision Act is the central German law governing state supervision of insurance companies and transposes the European Solvency II Directive into national law.
IFRS 17 is the international accounting standard for insurance contracts that mandates a consistent, market-consistent measurement and presentation of results over the full contract lifetime.
The Insurance Distribution Directive (IDD) is the EU directive on insurance distribution; it governs registration, conduct of business, information duties and product oversight for all distribution channels.
The Swiss Insurance Supervision Act (ISA/VAG) governs licensing, solvency (SST) and conduct duties of insurers as well as the registration of insurance intermediaries; the supervisory authority is FINMA.
The KVG is the Swiss federal act on health insurance that governs the mandatory basic health insurance scheme and its supervision.
MaGo is a circular issued by BaFin that specifies the supervisory requirements for the governance system of German insurance undertakings under the Insurance Supervision Act.
The PRIIPs Regulation requires providers of packaged retail investment products, including unit-linked life insurance, to produce a standardized key information document for retail investors.
Regulation (EC) No 883/2004 coordinates the social security systems of the EU member states – and, via Annex II of the Agreement on the Free Movement of Persons and the EFTA Convention, of Switzerland – by determining which national legislation applies to persons working across borders, aggregating insurance periods and making benefits exportable; it is supplemented by Implementing Regulation (EC) No 987/2009 and has replaced Regulation (EEC) No 1408/71 since 1 May 2010.
Germany's 2001 Retirement Savings Act established state-subsidized private retirement provision and introduced the so-called Riester pension.
The Second Care Strengthening Act (PSG II) reformed Germany's statutory long-term care insurance from 1 January 2017 by replacing the three care levels with five care grades and a newly defined concept of care dependency.
The Seventh Book of the German Social Code (SGB VII) of 7 August 1996 is the legal basis of German statutory accident insurance; it governs the insured population, insured events (occupational accident, commuting accident, occupational disease), prevention, medical treatment, cash benefits such as injury benefit and injury pension, the replacement of employer liability, and the organisation and financing through Berufsgenossenschaften and public accident insurance funds.
Solvency II is the EU's risk-based supervisory regime for insurers and reinsurers; it governs capital requirements, governance and reporting duties in three pillars.
The Swiss Insurance Contract Act (ICA/VVG) governs the private-law relationship between insurer and policyholder – from disclosure duties and premiums to payment of benefits in the event of a loss.
The Federal Act on Accident Insurance (UVG, SR 832.20) is the legal basis of mandatory accident insurance in Switzerland; it governs the insured population, the insured events (occupational accident, non-occupational accident, occupational disease), benefits in kind and in cash, the insurers and the financing of the scheme.