The Austrian Financial Market Authority (FMA) has published the Guidelines on Complaints-Handling by Insurance Undertakings, issued by the European Insurance and Occupational Pensions Authority (EIOPA). The guidelines aim to improve, in the interests of customers, the way in which insurance undertakings handle complaints. One example of the guidelines is the requirement that the management of an undertaking adopt procedures for handling complaints as well as monitor compliance. Customers must also be informed of the process for handling complaints. Insurance undertakings are required to provide a response to complaints without any unnecessary delay. Where the insurance undertaking does not comply with the customer’s demands, a thorough explanation must be provided to the customer and further options detailed.
Insurance undertakings are required to process complaints in accordance with these guidelines.
The EIOPA guidelines can be found in German on the FMA website and in English on the EIOPA website.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0)676/882 49 516