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insurance
Schoenherr's insurance team provides legal advice on transactions, distribution structures, product design, and regulatory and tax matters in the insurance industry.
"The lawyers are very thoughtful and considerate, and provide solutions."
Schoenherr’s insurance practice group advises many of Austria's and Europe's leading insurers on transactions in the insurance sector, as well as on distribution structures, product design, and all related regulatory and tax matters for life, non-life, and reinsurance business. We provide detailed legal analysis of all applicable insurance laws and regulations, especially regarding life, D&O and property insurance. We also advise the Austrian Insurers' Association and provide assistance with Austrian insurance legislation.
our services
- anti-corruption (compliance programmes, guidelines, monitoring systems, etc)
- all aspects of life insurance (including product design)
- bancassurance
- distribution and cooperation agreements
- general terms and conditions
- warranty insurance in m&a transactions
- regulatory and compliance
- tax, including FATCA
- insurance m&a and insurance restructuring (including cross border mergers and outsourcing)
- insurance-related litigation
- portfolio transfers
legal areas
- administrative & public law
- arbitration
- capital markets
- commercial contracts
- eu & competition
- compliance & internal investigations
- corporate & reorganisations
- data protection
- insolvency & restructuring
- financial institutions and insurance
- ip & unfair commercial practices
- it & technology law
- labour & employment
- litigation
- m&a
- public procurement & ppp
- white collar crime & criminal defence
news
publication
11 March 2025
czech republic romania austria
K.Tupá M.Svoboda K.Hlavinková F.Buta B.Bodó M.Schmiedinger W.Kapica
to the point: financial regulation | 02/2025
Welcome to our to the point newsletter. Every month, we are looking back at the most relevant developments in the area of financial regulation in the CEE region.
roadmap
The Czech Class Actions Act: a potential game-changer for consumer claims enforcement against businesses
The Czech Class Actions Act – Act No. 179/2024 Coll., on Collective Civil Proceedings (the "Act") – implementing the EU Directive on representative actions, came into effect on 1 July 2024. This long-awaited legislation enables collective enforcement of consumer claims against businesses, a mechanism that has been largely limited in the Czech Republic until now. This poses risks, especially for businesses with large consumer bases in sectors such as financial services, insurance, energy, telecommunications and transport.
roadmap
Bancassurance in the Czech Republic: navigating high remuneration and conflicts of interest
Bancassurance – the collaboration between banks and insurance companies aimed at offering insurance products to the bank's customers – is a significant distribution channel for insurance products in the Czech Republic. This model faces scrutiny due to high remuneration and conflicts of interest, as highlighted by the European Insurance and Occupational Pensions Authority (EIOPA).
class action info corner
The new class action rules are coming and will have quite an impact. In many CEE jurisdictions, the possibility to request compensation in a class action will be new and will materially change the litigation landscape. Our info corner gives you an overview of how CEE countries intend to implement the Directive.
team
