Austria: Industrial insurance premiums to rise
Article Abstract:
The Austrian insurance industry association has announced premium increases in industrial insurance from the beginning of 2002. This will affect especially fire and business interruption insurance. Altogether the premium hikes may amount to up to Sch 10bn. The association says that the requirement to increase premiums is between 50% and 200%. In 2000 payouts on claims in industrial insurance exceeded premium income by about Sch 1bn. In 2001 claims are estimated to be 20% higher than premium income. According to the association, the terrorist attacks in the US on 11 September 2001 affect Austrian insurers merely to the amount to less than Sch 20mn.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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AUSTRIA: PRICE HIKES IN MOTOR INSURANCE
Article Abstract:
Premium rates in third-party liability motor insurance in Austria are likely to rise by between 5% and 10% in year 2001. This is due partly to the increase of minimum liability cover in third-party liability car insurance from Sch 15mn to about Sch 100mn on 1 July 2001.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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AUSTRIA: UPTURN EXPECTED IN MOTOR INSURANCE
Article Abstract:
Dietrich Karner, head of Generali, expects the premium income from motor insurance in Austria to increase 2.2% to Sch 18.7bn in year 2001.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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