Insurance Management

Consumer, investor and creditor protection

Lecture, 3.00 ECTS

 

Course content

The LV discusses the applicable rules and laws regarding consumer, investor and creditor protection in the financial and insurance sectors. In particular, students are sensitized to the effects on the business activities of banks and insurance companies.

The core contents include:
[1] Overview of the legal framework of consumer, investor and creditor protection in relation to banking and insurance transactions;
[2] Relevant content from EU directives: e.g. currently the Consumer Credit Directive, Distance Financial Services Directive;
[3] Relevant content from national laws: e.g. currently the Banking Act BWG, Consumer Credit Act VKrG, Insurance Supervision Act VAG, Insurance Contract Act VVG, Consumer Protection Act KSchG, Distance Financial Services Act FernFinG, Brokers Act;
[4] Duty to provide advice and information; ombudsman service; claims for damages;
[5] Basic principles of insolvency law;
Optional contents may include:
[6] Deposit protection in international comparison;
[7] Current bank and insurance-related OGH findings/judgements;

Learning outcomes

Graduates understand the legal, regulatory and protective framework for companies in the financial sector and recognize the importance of subordinating their business activities to these requirements. In this course, special attention is paid to the effects of legal regulations for the protection of consumers, investors and creditors on business activities in the company, and the sustainable management of reputation and legal risks by ensuring compliance with framework conditions and voluntarily followed rules.

Recommended or required reading and other learning resources / tools

References: Blanchard/Illing (2009): Makroökonomie, Pearson. Bofinger et al (1997): Geldpolitik, Vahlen. Gantenbein/Spremann (2013): Finanzmärkte, UTB. Gischer et al (2012): Geld, Kredit und Banken, Springer. Holtemöller (2008): Geldtheorie und Geldpolitik, Mohr/Siebeck. Madura (2011): Financial Markets and Institutions, South Western. Mishkin (2007): The Economics of Money, Banking, and Financial Markets, Pearson/Addison Wesley. Mishkin/Eakins (2012): Financial Markets and Institutions, Prentice Hall.
Academic journals: BIS Reports; Publications of the ECB, the IMF and other central banks; Credit & Capital Markets.

Mode of delivery

Lecture

Prerequisites and co-requisites

n/a

Assessment methods and criteria

Lecture: final exam