Austria: Licence Application

Lloyd’s in final stages of application for establishment authorisation in Austria and appoints a General Representative.

Establishment authorisation
 
Lloyd’s is in the final stages of the application process for establishment authorisation in Austria. On the basis that authorisation is granted, underwriters will be permitted to underwrite all classes of insurance in Austria on a freedom of establishment basis, with the exception of compulsory third-party motor liability insurance (Class 10) and life business.

This authorisation will allow insurance to be written in Austria by a branch of an insurance undertaking whose head office is located in another EU member state. For the purposes of Lloyd’s, this will permit Lloyd’s underwriters to appoint coverholders in Austria to write Austrian business and provides the opportunity for managing agents to establish service companies in Austria.

Lloyd’s status as a freedom of services insurer in Austria will remain and is unchanged.

Austria requires insurers carrying on business in its territory on a freedom of establishment basis to comply with the ‘general good’ conditions. These conditions have been incorporated into Crystal, where further trading information on Austria can also be found. 

Lloyd’s General Representative1

It is a requirement of the freedom of establishment authorisation to appoint a General Representative in Austria, and Lloyd’s has appointed Dr Harald Svoboda in this capacity.

Contact details for Dr Svoboda are as follows:

Dr Harald Svoboda
Lloyd’s General Representative in Austria
C/O Kubac, Svoboda & Kirchweger Rechtsanwalte
Kantgasse 3
A-1010 Vienna
Austria
Tel: + 43 (0)1 713 07 13
Fax: + 43 (0)1 713 24 21
Email: harald.svoboda@ksk-lawyers.com

1) It should be noted that Lloyd's representative in Austria is a legal representative office, which is the minimum required to enable underwriters to conduct establishment business. As such, the office does not provide any additional services, and underwriters wishing to obtain more information about business opportunities or market development in Austria should contact the Lloyd’s representative office in Germany (details of which can be found in Crystal).
Last updated on 17 Dec 2008