WKO: New guide "Sustainable Finance for insurance brokers and advisors in insurance matters"
Summary of key legislation, checklists and practical tips support insurance brokers.
Climate change and increasing resource scarcity affect us all: efforts are being made worldwide to prevent or minimize the impact.
Finance is seen as a key factor in this, as public financial resources are not expected to be sufficient and thus targeted private investment is needed.
A new guide produced by the Professional Association of Insurance Brokers together with fwp partner Markus Kajaba now outlines the obligations for insurance brokers in the context of their advisory activities - both currently and in the future. On around 40 pages, the e-book provides an insight into the topic of sustainable finance. A compilation of the most essential legal provisions, tips and checklists, round off the practical reading.
"I am very pleased that I was able to contribute my expertise to the WKÖ's Sustainable Finance Guide for the insurance industry. The density of regulation and the associated pioneering role of the finance and insurance industry in ESG and sustainability is associated with advantages and disadvantages. To correctly classify these advantages and disadvantages and, with a view to future developments, to jointly provide correct and targeted advice on increasingly important sustainable products on the one hand and also to develop interesting and legally correct structured products on the other hand, is the exciting challenge and at the same time great opportunity for this sector," says Markus Kajaba, fwp Partner.
"Insurance brokers in the non-life insurance sector have been and are being confronted with the effects of climate change - such as increased severe weather catastrophes - more and more frequently in recent years. Many have already developed sound know-how to advise their clients on the best possible insurance protection against environmentally related damage. Now our consulting competence is also required for the mediation of insurance investment products: The insurance industry, and insurance intermediaries in particular, are seen as being in a key position to acquire private capital to achieve a wide range of environmental projects. This guideline, which we will update regularly, is to support thereby to fulfill this aspect of the interest protection of the customers in the best possible way" , explains Christoph Berghammer, professional association chairman.
The guide is now available for download as an e-book for members of the Austrian Federal Economic Chamber.