An insurance broker is expected to provide objective, professional advice and to determine the best and most individual insurance coverage. In addition, the insurance broker should determine the best and most favorable offer for the customer.
What many customers are not aware of is that the insurance broker is subject to strict consultation and documentation obligations. If the broker violates these and the policyholder suffers a disadvantage in the event of a claim, the insurance broker’s liability must always be examined. The insurance broker’s liability may arise not only in the run-up to the conclusion of the contract, for example when determining what is to be insured and in what amount, but also during the ongoing insurance contract. For example, according to the German Federal Supreme Court, a so-called “increase in risk” (“Gefahrerhöhung”) exists if a building is scaffolded due to renovation measures. If the insurance broker becomes aware of this, it is his responsibility to notify the insurer. If this notification is not made despite knowledge, and the insurer then pays no benefit or only a reduced benefit, there may be liability claims against the insurance broker.
If you are concerned that your insurance broker has given you incorrect advice or may have committed other misconduct, we will examine possible liability and compensation claims on your behalf. If you have suffered disadvantages in the settlement of an insurance claim, we will be happy to support you!