Austria - Terrorism risk insurance programme


Terrorism risk insurance home page > Programmes by country > Austria



This page contains information relating to initatives taken by Austria at a national level for compensation relating to terrorism insurance.


Name of programme: Österreichischer Versicherungspool zur Deckung von Terrorrisiken


Date of establishment: October 2002 (covering risks from January 2002)


Basic structure: Purely private co-reinsurance pool set up by the Verband der Versicherungsunternehmen Österreichs (VVO, the Austrian insurance association). The pool is open to insurers and reinsurers writing business in Austria. 99% of VVO members belong to the Pool.


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International E-Platform on Terrorism Risk Insurance - 200 x 349 web callout

Main features

Layers of coverage


First - up to an annual aggregate of EUR75 million, co-insured by direct insurers, in proportion to their market share.

Second - up to an annual aggregate of EUR125 million, in excess of EUR75 million, underwritten by the international reinsurance market.

Limitation of exposure of private sector


Not applicable

Temporary /permanent government participation


Not applicable


Gratuity of government coverage


Not applicable

Voluntary / mandatory


Insurance of terrorism risks covered by the scheme is voluntary. Participation in the pool is voluntary.

Minimum sum insured



Coverage of CBRN terrorist attacks



Lines covered


All property lines (industrial, commercial and private) other than transport insurance.

Pricing mechanism




Rating structure for reinsurance premia:

from 0.75% to 4% of the sum insured (for participants in the Pool);

From 2.25% to 12% of the sum insured (for non-participants in the Pool).

Direct insurers are free to set premia to be paid by those insured.

Other public sector victims compensation schemes


Compensation of victims of intentional crimes is offered, under certain conditions, by the Verbrechensopfergesetz (Act on granting aid to crime victims, VOG).



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