From the series of newsletters of the DHBW (Baden-Wuerttemberg Cooperative State University) Heidenheim on the topic “Mediation Law in Practice”:
At this point, lawyer Dr. Johannes Fiala, https://www.fiala.de, lecturer for insurance law at the DHBW Heidenheim, will answer your questions.
Questions can be asked by emailing ott@dhbw-heidenheim.de.
In principle, the stocks of an agency belong to the insurer. Agents would also violate the criminal
privacy if they disclose data without the prior explicit consent of the data subject.
The broker also requires a customer permit in accordance with the Federal Data Protection Act.
It is not uncommon for disputes to arise afterwards with the insurer as to who is entitled to the brokerage fee – an assignment can help here. In practice, it is an elegant way to split off or spin off the portfolio of an individual broker in accordance with the German Reorganisation Act (Umwandlungsgesetz) and incorporate it into a limited liability company (GmbH). The GmbH is then the legal successor. The GmbH shares, in turn, can be sold without any problems (share deal instead of asset deal).
This arrangement is also often recommended at an earlier stage, for example to regulate succession or to reduce personal liability. It is much more time-consuming and often associated with more liability risks to take over a portfolio and then reassign customers with a new brokerage contract. A good rapport with the broker supervisor or insurer can make the transfer much easier for the new policyholder.
Published on
www.dhbw-heidenheim.de
