Insurance intermediary for product supplementary services - exemption from approval obligation at the location Single Point of Contact

Insurance intermediary for product supplementary services - exemption from approval obligation

Independent professional insurance arrangement is generally a trade that requires approval and for which you require permission from the relevant Chamber of Industry and Commerce.
For certain insurance intermediaries only (so called insurance intermediaries arranging product supplementary insurance), there is the option to be exempt from this approval requirement upon application.

Insurance intermediaries providing product supplementary services are tradespeople who arrange product supplementary insurance in addition to their main activities. The term “product supplementary” must be interpreted in a very strict sense. The insured risk must result directly from the goods or services provided.

• For example

Product supplementary insurance in this sense could be the arrangement of car insurance in combination with buying a car or property insurance in the context of buying a property.
Arranging life insurance in the context of an investment consultancy, on the other hand does not meet the requirements.

Insurance consultant providing product supplementary services are obliged to seek registration in the directory of insurance intermediaries, immediately upon taking up their services. Failure to do so can result in an administrative fine.

Online processing

Service provided online

Prerequisites

• Mediation of insurance policies to complement the product
  Arranging insurance as a supplement to the goods or services supplied as part of its main activity (accessoriness).
• Direct order
  Performance of activities directly on behalf of one or more approved insurance intermediaries and / or one or more insurance companies
• Confirmation of cover by professional liability insurance
• Declaration of Reliability and Qualification
  Declaration by the contracting party / parties stating that you are reliable and suitably qualified and that your financial circumstances are well-ordered.

Documents required

• Application for exemption from approval requirement for arrangement of product supplementary insurance
• Identity document
  Identity card or other official identification bearing a photograph. Not required for digitally submitted applications.
• Verification statement of expertise / reliability
  Proof of expertise / reliability in the form of a statement (attachment to the application for exemption from approval requirement) from your contracting party / parties confirming:
  

  • that you have been commissioned to act as an intermediary for product supplementary services in addition to your main business activity
  • that you are reliable
  • and suitably qualified
  • and that your financial circumstances are well-ordered.

  If you are active for different companies or intermediaries, you will need to fill in a separate attachment to the application for exemption of approval for each insurance company or intermediary.
• Confirmation of cover by professional liability insurance
  proof of professional liability insurance with the required minimum amounts of cover (see "Further information")
• Current excerpt from the trade register (only required if included in the trade register)
  Registered companies are required to submit a current excerpt from the trade register when applying. Legal entities that are currently being founded (e.g. GmbH, AG) are required to submit their partnership agreement or statutes.

Forms

• Application for exemption from approval requirement for product supplementary services (§ 34d sect. 6 GewO) and attachment (verification statement of expertise / reliability)
• Sample insurance confirmation for professional liability insurance for insurance intermediaries

Fees

Legal basis

• Trade Code (GewO) § 34d sec. 6
• Regulation on Insurance Mediation and Consulting - Insurance Mediation Regulation (VersVermV)
• Schedule of fees by the Chamber of Industry and Commerce (Section F. Legal and Taxation - 2. insurance intermediaries/consultants)

More information

• Information from the Berlin Chamber of Industry and Commerce regarding insurance arrangement
• Leaflet from the Berlin Chamber of Industry and Commerce - Insurance Intermediaries Providing Product Supplementary Services
• Application forms for insurance intermediaries / consultants
• Summary differences in the insurance industry
• Register of intermediaries IHK - Registration
• Minimum amounts of cover for professional liability insurance