After successful completion of the course, students are able to

• explain and differentiate the legal basis of insurance supervision (international supervisory standards, EU internal insurance market, insurance supervision law) and to apply them to specific practical problems,
• define insurance transactions and decide whether certain transactions constitute an insurance transaction and whether supervisory law applies to them,
• identify possible problem areas in the course of the insurance business,
• use examples to demonstrate whether insurance companies are behaving in accordance with the supervisory law and to justify these statements,
• explain admission, cross-border business, reinsurance, portfolio transfers and outsourcing and to decide which specific legislation to apply to individual circumstances,
• take special life and health insurance regulations into account when processing cases,
• explain the capital investment regulations, capital adequacy regulations, accounting regulations, insurance group supervision, which are applicable to insurance companies, and to show, based on concrete examples, whether the regulations applicable to these areas have been complied with,
• analyze the reports which need to be generated by insurance companies,
• determine the coverage requirement of an insurance company,
• draw up a solvency balance sheet and a VAG / UGB of an insurance company,
• determine own funds, the level of solvency or the solvency capital requirement of an insurance company using sample information,
• outline insurance supervision arrangements,
• explain the tasks of the governance functions,
• read legislative texts including comments and
• explain the organization and financing of insurance supervision.

International supervision standards, EU internal insurance market, principles of supervision law, definition of insurance business activities, licensing, cross-border business activities, reinsurance, portfolio transfers, outsourcing, special provisions for life and health insurance, mutual insurance association, calculation and coverage of technical provisions, investments, solvency requirements, overview of insurance accounting, insurance group supervision, supervisory measures, organisation and funding of insurance supervision

The basic contents and concepts are presented by the head of the LVA and illustrated and discussed with the help of examples.

Die Vorlesung baut auf das neue Versicherungsaufsichtsgesetz 2016 (VAG 2016) auf!
https://www.ris.bka.gv.at/ > Bundesnormen > Bundesrecht konsolidiert > Suche nach "Titel, Abkürzung": VAG 2016 > einen Paragraphen des VAGs anklicken (z.B. "§ 0") > mit "Gesamte Rechtsvorschrift heute / anderes Datum" kommt man dann zur aktuellen Version (bzw. einer früheren Version).

Karin Tenora ist Expertin in der Finanzmarktaufsicht (FMA), Bereich Versicherungs- und Pensionskassenaufsicht; zu ihren Spezialgebieten gehören die Rechnungslegung und Abschlussprüfung von Versicherungsunternehmen sowie das Versicherungsaufsichtsrecht. Sie ist Prüferin im Rahmen der Zulassung zur Berufsbefugnis bei der KWT, Lektorin an der WU Wien, Fachvortragende und Autorin von Fachartikeln.

The performance is assessed by an examination at the end of the semester.
See: https://fam.tuwien.ac.at/lehre/pr/

LVA-Anmeldung nur für Skriptum bzw. Lehrunterlagen notwendig.

Literatur:

• Harreither, Versicherungsaufsichtsrecht
  (Skriptum zur Lehrveranstaltung - ONLINE).

Weiterführende Literatur:

• Peter Baran; Alexander Peschetz, Österreichisches Versicherungsaufsichtsrecht, Das neue VAG 2016 (Manz 2015).
• FMA, Handbuch Versicherungsaufsicht - VAG 2016 (LexisNexis 2016).