Regulatory Alerts2019-08-23
General Good Rules for Insurance Distribution in Germany (Art. 11 IDD)
BaFin publishes this guidance notice detailing the national legal provisions that EU and EEA insurance undertakings must comply with when operating in Germany via branches or cross-border services. The document specifies key statutes under the German Insurance Supervision Act, Insurance Contract Act, and information regulations, which BaFin monitors alongside standard financial oversight. All listed rules remain applicable in their current amended form and were last updated on 24 February 2025.
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Pursuant to Article 11(1) of Directive ( EU ) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution ( IDD ), Member States shall ensure appropriate publication by their competent authorities of the relevant national legal provisions protecting the general good, including information about whether and how the Member State has chosen to apply the stricter provisions provided for in Article 29(3), which are applicable to the carrying on of insurance and reinsurance distribution in their territories.
The following national rules on insurance distribution apply in addition to the provisions based on the IDD :
- As of: 24 February 2025 -
23.08.2019 | modified on: 24.02.2025
Sections 48b, 48c, 50, 50a German Insurance Supervision Act ( Versicherungsaufsichtsgesetz - VAG )
Section 7a paragraph 5 of the Insurance Contract Act (Versicherungsvertragsgesetz - VVG )
Regulation on Information Obligations for Insurance Contracts ( Verordnung über Informationspflichten bei Versicherungsverträgen VVG-InfoV )
Additional information:
Please note that the English translation may not be current. In any case, the German version is binding.
In the guidance notice “ General Good Requirements in Germany ”, BaFin publishes legal requirements that insurance undertakings domiciled in other states of the EU/EEA must observe when they carry on business via a branch or under the freedom to provide cross-border services (activities pursuant to section 61 (1) VAG ) and compliance with which is monitored by BaFin with the exception of financial supervision. All provisions mentioned are to be observed in their current version including subsequent amendments.
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