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Insurance Waiver Form

Insurance Waiver Form Template for Austria

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Key Requirements PROMPT example:

Insurance Waiver Form

"I need an Insurance Waiver Form for our extreme sports facility in Vienna, to be used starting January 2025, where participants voluntarily waive accident insurance coverage for specific high-risk activities while acknowledging they've been informed of all potential risks."

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Document background
The Insurance Waiver Form is a critical document used in Austrian insurance practice when an individual or entity chooses to decline specific insurance coverage or benefits. This document is particularly relevant in situations where standard insurance coverage might be typically required or recommended, but the party makes an informed decision to waive such protection. The form must comply with Austrian insurance law (VersVG), consumer protection legislation, and insurance supervision requirements. It includes detailed identification of parties, specific coverage being waived, risk acknowledgments, and mandatory warnings. The document serves both as a protection for the insurance provider and as an information tool for the waiving party, ensuring full transparency about the consequences of waiving insurance coverage.
Suggested Sections

1. Identification of Parties: Details of the insurance company and the person/entity waiving the insurance coverage, including full legal names, addresses, and relevant identification numbers

2. Insurance Policy Details: Specific information about the insurance policy being waived, including policy number, type of coverage, and relevant dates

3. Waiver Declaration: Clear and explicit statement of the insurance coverage being waived, written in plain language as required by Austrian consumer protection laws

4. Risk Acknowledgment: Statement acknowledging understanding of the risks associated with waiving the insurance coverage

5. Legal Consequences: Clear explanation of the legal implications and consequences of signing the waiver

6. Declarations and Confirmations: Statements confirming that the signatory has read, understood, and voluntarily agrees to the waiver

7. Signature Block: Space for signatures, dates, and witness information if required

Optional Sections

1. Third Party Rights: Section addressing the rights of third parties affected by the waiver, required when the insurance coverage impacts additional beneficiaries

2. Duration of Waiver: Section specifying the time period of the waiver, needed when the waiver is temporary rather than permanent

3. Alternative Coverage: Section describing alternative insurance arrangements, required when regulatory compliance necessitates maintaining some form of coverage

4. Revocation Rights: Section detailing the right to revoke the waiver within a specified period, required for consumer contracts under FernFinG

Suggested Schedules

1. Schedule A - Policy Details: Detailed description of the insurance policy being waived, including all coverage types and amounts

2. Schedule B - Risk Disclosure: Comprehensive list of risks and potential consequences associated with waiving the insurance coverage

3. Appendix 1 - Information Sheet: Mandatory information sheet as required by Austrian insurance regulations, explaining key consequences in simple terms

4. Appendix 2 - Legal Rights Summary: Summary of legal rights and cooling-off periods as required by Austrian consumer protection laws

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Insurance

Financial Services

Real Estate

Construction

Manufacturing

Healthcare

Transportation

Sports and Recreation

Education

Professional Services

Retail

Relevant Teams

Legal

Compliance

Risk Management

Insurance Administration

Corporate Governance

Operations

Customer Service

Documentation

Underwriting

Relevant Roles

Insurance Underwriter

Risk Manager

Compliance Officer

Legal Counsel

Insurance Broker

Claims Manager

Corporate Secretary

Chief Risk Officer

Insurance Administrator

Legal Administrator

Contract Manager

Business Operations Manager

Industries
Versicherungsvertragsgesetz (VersVG): Austrian Insurance Contract Act - The primary legislation governing insurance contracts in Austria, covering fundamental aspects of insurance relationships, rights and obligations of parties, and specific requirements for insurance documentation
Allgemeines Bürgerliches Gesetzbuch (ABGB): Austrian Civil Code - Provides the basic framework for contract law, including general principles of contract formation, validity, and interpretation that apply to insurance waivers
Konsumentenschutzgesetz (KSchG): Consumer Protection Act - Essential for insurance waivers involving consumers, providing specific protections and requirements for contracts with consumers
Versicherungsaufsichtsgesetz (VAG): Insurance Supervision Act - Contains regulations about insurance business operations and requirements for insurance documentation
Fern-Finanzdienstleistungs-Gesetz (FernFinG): Distance Financial Services Act - Relevant for insurance contracts concluded at a distance, containing specific information requirements and right of withdrawal
Signaturgesetz (SigG): Electronic Signature Act - Important for electronic insurance waivers, governing the validity and requirements of electronic signatures
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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