General Terms and Conditions adopted by the Federal Association of Insurance Brokers
The insurance broker (hereinafter “IB”) acts as an intermediary in insurance contracts between insurers and insurance clients (hereinafter “IC”), independently of his own interests and those of third parties, and in particular independently of the insurance carrier (insurer). The IB, who is commissioned by the IC to represent the IC’s interests in private and business insurance matters, acts on behalf of both parties to the insurance contract but must primarily safeguard the interests of the IC. The IM performs his duties in accordance with the Insurance Broker Act (Makler G), the General Terms and Conditions (GTC), and a brokerage agreement concluded with the IC, exercising the diligence expected of a prudent businessperson. Upon agreement, the GTC constitute a binding basis for both the IC and the IM in their business dealings and in the settlement of business transactions.
1. Obligations of the Insurance Broker (IB):
1.1. The protection of interests includes providing the Policyholder with professional advice and information regarding the insurance coverage to be arranged, tailored to the Policyholder’s specific needs and requirements. The IB shall prepare an appropriate risk analysis and an appropriate coverage plan based on the information provided and the documents submitted to him.
1.2. The Insurance Broker is obligated to provide the Policyholder with the best possible insurance coverage given the circumstances of the individual case. The protection of the Policyholder’s interests is limited to insurers with a branch in Austria; coverage from other insurers is provided only upon agreement on compensation for the additional effort involved. The broker’s arrangement of the best possible insurance coverage is carried out within a reasonable processing time, taking into account the price-performance ratio; this means, in addition to the amount of the insurance premium, in particular the insurer’s professional competence, its handling of claims settlement, its willingness to show goodwill, the term of the contract, the possibility of termination following a claim, the amount of deductibles, etc.
1.3. The insurance broker is obligated to perform the activities specified in § 28, item 4 (notification of legal acts, etc.) and item 5 (review of the insurance policy) of the Insurance Brokerage Act (MaklerG) only if a fee agreement has been concluded. This does not apply to consumer transactions.
1.4. The insurance broker is obligated to perform the activities specified in § 28, item 6 (assistance in the event of an insured loss, etc.) and item 7 (ongoing review, etc.) of the Insurance Brokerage Act (MaklerG) only if a fee has been agreed upon.
1.5. The insurance broker is bound by a duty of confidentiality, must safeguard the business and trade secrets of the client that come to his knowledge during the course of his advisory services, and may only disclose to the insurer such information as is necessary for the assessment of the risk to be insured or already insured. The client consents to the automated processing of his personal data.
1.6. The insurance broker attaches great importance to the protection of the client’s personal data. Data processing is carried out exclusively in compliance with statutory provisions (GDPR, Data Protection Act) and on the basis of the contract concluded with the client and, where applicable, a declaration of consent provided by the client.
2. Obligations of the Insurance Customer:
2.1. The Insurance Customer shall truthfully and completely disclose all relevant data, information, and documents necessary for the conclusion of the desired insurance policies and for the Insurer to properly fulfill its obligations. Likewise, the policyholder shall immediately and without being asked notify the insurance broker in writing of any changes relevant to insurance coverage, in particular changes of address, changes in occupation, work abroad, increase in risk, etc. If necessary, the policyholder must participate in a risk assessment conducted by the insurance broker or insurer after prior notification and scheduling of an appointment, and must voluntarily disclose any special risks.
2.2. The Policyholder acknowledges that an application signed by him or on his behalf by the Insurance Broker does not yet confer insurance coverage and is subject to acceptance by the insurer. The Policyholder acknowledges that an uninsured period may arise between the signing of the insurance application and its acceptance by the insurer. The Policyholder shall review all insurance documents transmitted through the Insurance Broker for factual inaccuracies and any deviations from the original application and notify the Insurance Broker so that corrections can be made.
2.3. The Policyholder acknowledges that verbal side agreements with the Insurance Broker and/or its employees are invalid and that all orders and instructions to the Insurance Broker must be given in writing; any deviations from the written requirement must be made in writing. This does not apply to consumer transactions.
2.4. The Policyholder acknowledges that, as the policyholder, he must comply with obligations under the law and the insurance terms and conditions in the event of an insured event, and that failure to comply may result in the insurer being released from its obligation to pay benefits.
3. Miscellaneous
3.1. Due to the high number and variety of business transactions, the Insurer’s liability for the entire business relationship is limited to willful misconduct and gross negligence; in consumer transactions, this exclusion of liability applies only to damages other than personal injury. Except in consumer transactions, liability for gross negligence is limited to the statutory minimum liability amount and does not extend to lost profits.
3.2. The contracting parties shall transfer these General Terms and Conditions to any legal successors and confirm that these General Terms and Conditions remain valid even if the Seller or the Buyer changes its legal form, contributes its business or assets to a corporation, enters into a merger, or any other change occurs in the legal entity of the Seller or the Buyer. The parties agree to take all legal steps necessary to ensure the transfer of these General Terms and Conditions. The contracting parties are obligated to notify the other party in writing without delay of any change in the identity of the contracting party.
4. Right to Compensation
With respect to brokered applications, the VM’s compensation consists of the commission; in addition, the VM is entitled to compensation upon written agreement and, pursuant to Sections 1.2, 1.3, and 1.4, to reasonable compensation from the VK.
5. Geographical Scope
5.1. Unless expressly agreed otherwise in individual cases, the Agent’s activities are geographically limited to Austria.
5.2. Unless mandatory statutory provisions preclude it in individual cases, Austrian law shall apply exclusively; the place of performance is the location of the Agent’s place of business.
5.3. In the event of disputes, the matter shall be brought exclusively before the court with subject-matter jurisdiction at the location of the VM’s place of business, unless mandatory statutory provisions preclude this in individual cases. This does not apply to consumer transactions.
5.4. Any agreements deviating from these General Terms and Conditions shall be governed by a separate written brokerage agreement. The invalidity of any individual provision shall not affect the validity of the remaining provisions of these General Terms and Conditions.
6. Use of Artificial Intelligence
6.1. Steinmayr & Co Insurance Brokers GmbH may use artificial intelligence (AI) systems to provide its services more efficiently. This applies in particular to:
- the creation, editing, and summarization of emails and other correspondence,
- the analysis, structuring, and processing of contract, claims, risk, and other customer data,
- the creation of documentation, call logs, meeting notes, and summaries, using audio recordings where necessary.
6.2. AI systems are used exclusively as supportive tools. Legal and technical assessments, as well as all decisions, are made by natural persons. The processing of personal data is carried out in accordance with the applicable data protection regulations. Where required by law, separate consents will be obtained.
7. Note on Audio Recordings
Please be advised that meetings, phone calls, video conferences, or other conversations may be recorded for documentation and evidence purposes. The audio data captured in this process may be processed to create call transcripts, file notes, meeting summaries, and other documentation. This processing is carried out in compliance with applicable data protection regulations. The information obtained from this is used exclusively for the proper documentation and handling of business and insurance matters.
