Insulution joins the association of German insurance brokers. (VDVM) and the Gesamtverband der Deutschen Versicherungswirtschaft (GDV) and undertake to comply with the German Insurance Association’s Code of Conduct.
Compliance and Code of Conduct for Insurance Brokers
We operate as insurance brokers on the basis of the following rules:
- acting as an insurance broker is based on trust, integrity and commitment to the principles of an honest businessman or insurance broker.
- a core element of brokerage activity is the provision of advice to clients, which is oriented to their needs and is regularly provided by insurance brokers from the broad market. The justified interest of the customer has priority over his own interest in remuneration
- the general compliance rules are observed. This includes, in particular, compliance with the provisions on bribery and corruption (cf. § 299 StGB), the clear handling of gifts, invitations and other benefits as well as rules for the avoidance of collisions between private and business interests.
- the handling of personal and confidential data complies with legal regulations. Furthermore, the data protection and competition law regulations are complied with.
- proper documentation of a legally prescribed consultation is carried out with special care. It is noted that the legislature has provided for a waiver of consultation and/or documentation only as an exception.
- among the basics of insurance brokerage activities is the advice and support of the policyholder even after conclusion of the contract during the insurance period, especially in the event of a claim.
- in the event of a solicitation or re-coverage of an insurance contract, the customer’s interest is always taken into account. The customer is to be consulted on existing insurance contracts. Particularly in the life and health insurance sector, enticing away insurance contracts can often entail considerable disadvantages for the customer. The customer is in any case to be informed explicitly about any disadvantage arising in this context. This is part of the documentation.
- continuous further training is the basis of business activity as an insurance broker. Corresponding evidence of further training is always kept available.
- in the case of remuneration arrangements with insurance undertakings, in particular with regard to special remuneration, etc., it shall be noted that the independence of the activity as an insurance broker must not be adversely affected.
- The proven ombudsman system of the insurance industry offers the client an independent, unbureaucratic system for settling disputes not only with insurance companies but also with insurance brokers. The customer will be informed by the insurance broker of the existing system in an appropriate form.