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Insurance Confirmation Letter

Insurance Confirmation Letter Template for Austria

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Key Requirements PROMPT example:

Insurance Confirmation Letter

"I need an Insurance Confirmation Letter under Austrian law for a commercial property lease, confirming liability coverage of at least 鈧2 million and property damage coverage of 鈧5 million, effective from March 1, 2025."

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Document background
The Insurance Confirmation Letter is a crucial document in Austrian business and legal practice, serving as formal evidence of insurance coverage. It is typically required when a third party needs verification of insurance coverage, such as in property leasing, business contracts, or loan agreements. The document must comply with Austrian insurance regulations, particularly the Insurance Contract Act (VersVG) and Insurance Supervision Act (VAG). It includes essential information such as the policyholder's details, coverage limits, policy period, and specific terms and conditions. This confirmation letter is distinct from the actual insurance policy and is designed to be more concise while still providing necessary proof of coverage. It's commonly used in business transactions where proof of insurance is a prerequisite for contractual relationships.
Suggested Sections

1. Letterhead and Date: Insurance company's official letterhead with full contact details and date of issuance

2. Policyholder Information: Complete details of the policyholder including name, address, and any relevant identification numbers

3. Policy Details: Essential information about the insurance policy including policy number, type of coverage, and period of insurance

4. Coverage Confirmation: Clear statement confirming the existence and validity of the insurance coverage

5. Key Terms: Summary of the main terms of coverage, including sum insured and any major limitations

Optional Sections

1. Additional Insured Parties: Section listing any additional parties covered under the policy, used when there are multiple beneficiaries

2. Special Conditions: Any special terms or conditions that apply to this specific policy, included when there are deviations from standard coverage

3. Claims Contact Information: Specific contact details for claims processing, included when requested by the policyholder or required by the recipient

4. Premium Payment Status: Confirmation of premium payment status, included when specifically requested by the policyholder or required by third parties

5. Language Declaration: Statement about available language versions, used when the confirmation letter is issued in multiple languages

Suggested Schedules

1. Schedule of Coverage: Detailed breakdown of specific coverage amounts and sublimits

2. Certificate of Insurance: Official certificate that can be presented to third parties as proof of insurance

3. Premium Schedule: Breakdown of premium payments and payment schedule, if relevant

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions















Clauses















Relevant Industries

Insurance

Banking and Financial Services

Real Estate

Construction

Manufacturing

Transportation and Logistics

Healthcare

Professional Services

Retail

Hospitality

Relevant Teams

Legal

Compliance

Risk Management

Insurance

Client Services

Operations

Administrative Support

Contract Management

Corporate Governance

Business Development

Relevant Roles

Insurance Underwriter

Risk Manager

Compliance Officer

Legal Counsel

Insurance Broker

Account Manager

Claims Manager

Contract Administrator

Business Development Manager

Property Manager

Facility Manager

Corporate Secretary

Chief Risk Officer

Insurance Administrator

Industries





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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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