Since the reform of the German Act on Insurance Contracts (Versicherungsvertragsgesetz) in 2007, the liability risk for insurance brokers has increased enormously. Insurance brokers are subject to a number of consulting and documentation obligations vis-à-vis their customers as a result of the liability provisions of Section 63 of the German Insurance Contract Act (VVG), which are anchored in the law. According to § 67 VVG, insurance brokers cannot exempt themselves from this risk vis-à-vis policyholders.
The liability risk for insurance brokers exists both during the consulting phase and after the conclusion and mediation of the insurance contract. Do you suspect that your client has deliberately concealed information from you or provided incorrect information that has led the insurer to refuse to pay benefits in the event of a claim? Is your customer now trying to make you partly responsible for this? Then you should seek legal support. We will examine your chances of defending yourself against liability claims and help you ward off unjustified claims.
We know from a large number of cases that the spectrum of breaches of duty that can be attributed to an insurance broker is very broad.
If you find yourself facing an accusation of liability due to alleged incorrect advice or alleged errors in advice, we will assist you in defending yourself against liability claims and claims for damages arising from insurance brokerage contracts.
