Where brokers seek advice

Determining liability risks and the regulation of insurance distribution increasingly the everyday life of finance and insurance brokers. The “YouGov Broker Sales Barometer” looked at where brokers seek help with legal issues or litigation.

The “YouGov Broker Sales Barometer” determined that 31 percent of German brokerage offices used professional support for legal questions or legal disputes in the past two years. The Kanzlei Michaelis (Hamburg) was named as the best-known law firm. Accordingly, every tenth brokerage office affected (ten percent) used the Kanzlei Michaelis (Hamburg), which is thus the law firm most frequently chosen by brokers in Germany. Somewhat less frequently (six percent), the Sozietät Blanke, Meier, Evers (Bremen) was used. Ealso six percent of the brokerage offices had registered with the Verband Deutscher Versicherungs-Makler e.V. (VDVM). Support requested. Ranking fourth in usage over the past two years was Law Firm Lehnert (four percent) and ranking fifth was Lawyer Dr. Johannes Fiala (also four percent). For the YouGov Broker Sales Barometer 277 brokers nationwide were surveyed in December 2011.

Liability risks of brokers

The drafting of all contractual agreements is of particular importance to brokerage offices. In particular, it is becoming generally accepted that a written insurance brokerage contract clearly clarifies the legal position of the insurance broker – compared to the otherwise applicable statutory provisions. improved. For liability management, more and more insurance brokers are using written agreements with their clients. The concept that contractual agreements with the customer are agreed in the form of general terms and conditions (GTCs) is also increasingly gaining acceptance.

Expertise in demand for finance and insurance brokers

In addition to the use of legal advice, questions were also asked about the quality of experience with these law firms. Overall, across all contacts with lawyers and law firms, brokers praise the high level of reliability (57 percent), a high level of expertise in all relevant legal issues (57 percent) and a high level of expertise specifically for finance and insurance brokers (56 percent). Thus, it is clear that these are the most important criteria for the selection of legal advice from brokers.

 

by courtesy of

www.versicherungsbote.de (published on versicherungsbote.de, 31.12.2012)

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About the author

Dr. Johannes Fiala Dr. Johannes Fiala

Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
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