A new decision by the Munich Higher Regional Court gives significant guidance for online insurance distribution activities which anticipates some of the new requirements under the Insurance Distribution Directive.
The court held that aggregators such as Check24 have to better inform and advise their website users before they conclude an insurance contract online. In particular,
On 10 March 2017 the German Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) published a guidance note on setting up health insurance companies in Germany under the new provisions implementing Solvency II. In contrast to most other EU member states, German regulated private health insurers are not permitted to offer products
The adoption of a draft law amending criminal law provisions protecting insurance related information will finally enable life insurers to make wider use of outsourcing by removing disclosure to service providers from the scope of Sec. 203 German Criminal Code (StGB) under certain conditions. In spite of some uncertainties, this is a major