From the series of newsletters of the DHBW (Baden-Wuerttemberg Cooperative State University) Heidenheim on the topic “Mediation Law in Practice”:<\/p>\n
At this point, lawyer Dr. Johannes Fiala, https:\/\/fiala4instalive.instawp.xyz<\/a>, lecturer for insurance law at the DHBW Heidenheim, will answer your questions. Questions can be asked by emailing ott@dhbw-heidenheim.de<\/a>.<\/p>\n In \u00a7 9 paragraph 2 of the forthcoming FinVermV, reference is made to \u00a7 9 paragraphs 2 to 5 of the Insurance Mediation Ordinance. “The minimum sum insured is 1,130,000 euros for each insured event and 1,700,000 euros for all insured events in a year”.<\/em><\/p>\n\n According to the legislator’s estimate, the “bancassurance intermediary” will incur costs of between EUR 800 and EUR 1,200 for such cover. If you want to be better insured as a financial intermediary, i.e. you want to avoid some gaps in coverage, you will
\nThis currently means the following for the amount of insurance coverage:<\/p>\n\n
\nThe biggest problem is that this (similar to insurance intermediaries or tax advisors) does not protect the consumer.
\nfrom criminal conduct or gross breach of professional duties (so-called knowing breaches of duty), because in such
\nconstellations, the compulsory insurance does not provide any insurance cover. The FinVermV will be published alongside the associated law “on grey market regulation”.
\n(Act on the Amendment of the Financial Investment Intermediary and Investment Law) will lead to a further thinning out of the “free” intermediary community,
\nthus leading to a further concentration of the market.<\/p>\n
\nhave to seek supplementary insurance cover. In addition, it is to be expected that customers – in the knowledge of
\nthe VSH cover – will increasingly try to sue the financial intermediary in the event of incorrect advice.<\/p>\n","protected":false},"excerpt":{"rendered":"