Source: BUS Sachsen-Anhalt (Linie6Plus)

Apply for exemption from the obligation to obtain a license as an insurance intermediary

Description

As a self-employed insurance broker, you generally need a license. Your local Chamber of Industry and Commerce (IHK) is responsible for this. However, as a so-called product-accessory insurance intermediary, you can be exempted from the licensing requirement. To do so, you must submit an application to your local IHK.

You are a product-accessory insurance broker if you broker supplementary insurance policies in addition to your main activity. This means that the risk for which you broker insurance must arise directly from the product or service.

Example of such supplementary insurance brokerage:

The brokerage of motor vehicle insurance in connection with the purchase of a car.
The brokerage of life insurance as security for the conclusion of a loan agreement.
The brokerage of transportation insurance in connection with delivery services.

You must also be entered in the register of insurance intermediaries. You can apply for entry in the register of intermediaries at the same time as you apply for exemption from licensing.

Special features for foreign nationals:

If you are a foreign national and have a branch in another member state of the European Union (EU), you must register in that country. You do not require a license exemption in Germany, nor can you be entered in the German insurance intermediary register.

Foreign nationals from non-EU countries are subject to the same regulations as German nationals. These also apply to EU nationals who only register a corresponding business in Germany.

Prerequisites

They only broker the insurance policies as a supplement to other products or services (accessoriness)
- Example: A car dealer also brokers car insurance when selling cars
You carry out your activity:
- on behalf of one or more insurance intermediaries with a license or
- on behalf of one or more insurance companies
Your client makes a declaration about:
- Your personal reliability,
- your qualifications and
- your orderly financial circumstances
You have taken out professional liability insurance. At present, a minimum cover of:
- EUR 1,276,000 for each insured event and
- EUR 1,919,000 for all insured events in one year in total

Required documents

Copy of your valid identity card or passport
for proof of the legal form of the company:
- if the company is based in Germany:
  - Extract from the commercial register or the partnership register, for companies entered in a register, otherwise
  - a copy of the articles of association
- if the company is domiciled abroad: corresponding documents from the country of domicile proving the legal form
Declaration from the client, i.e. the insurance company or head intermediary, about your personal reliability, your qualifications and your orderly financial circumstances

In the case of legal entities, you only need to complete the application form for the legal entity itself. You must submit all personal documents for all persons authorized to manage the company. For the legal entity, you also need an extract from the central trade register.

Partnerships as such are not eligible for a license. Each managing partner therefore requires a permit. You must submit a completed application form and all personal documents for each of these persons.

Please note: Your IHK may request further documents to check your personal reliability. Some of the documents submitted may not exceed an expiry date at the time of the decision (not only at the time of submission). Ask your Chamber of Industry and Commerce about this.

Fees (costs)

The fees for the license exemption for ancillary insurance intermediaries and for registration in the insurance intermediary register vary depending on the IHK.

Written form required: yes

Personal appearance required: no

Procedure

You can apply for the permit exemption in writing:

Download the application form from the website of your local Chamber of Industry and Commerce. Fill it out completely.
Then send it with the required documents to your local IHK.
As soon as you have provided all the information and the documents are complete, the IHK will decide on your application.
After a positive review, you will receive the license exemption and, if applicable, be entered in the insurance intermediary register.
The granted license exemption is valid indefinitely. It only ends if you renounce it. Under certain circumstances, the IHK can revoke or withdraw the license exemption and have you deleted from the register of intermediaries.

Note: As a rule, your local Chamber of Industry and Commerce also offers an online procedure.