You are an insurance intermediary if you work either as an insurance broker or insurance agent:
- An insurance broker is someone who arranges or concludes insurance policies for the policyholder on a professional basis without having been commissioned by an insurance company or an insurance agent.
- An insurance agent is someone who arranges or concludes insurance policies on behalf of an insurance company or insurance agent on a commercial basis.
In addition to obtaining a license, you must apply for entry in the register of intermediaries and obtain a registration number. You can apply for entry in the register together with the permit. You must register your business before commencing your activities.
The permit can be issued to a natural person or a legal entity. It is valid for an unlimited period.
Partnerships (commercial partnerships) such as the civil law partnership (GbR) or the general partnership (OHG) cannot obtain the permit. In these cases, every managing partner requires a license.
As a tied insurance agent, you work exclusively for one or, if the insurance products are not in competition, for several insurance companies. In this case, you have the option of being entered in the register of intermediaries directly by your insurance company. In this case, you do not need a license.
If you broker insurance in addition to goods or services, i.e. as an accessory to the product, you can be exempted from the licensing requirement by applying for exemption from the Chamber of Industry and Commerce. In this case, however, you are also subject to the registration requirement.
The content of the permit may be restricted and subject to conditions if, in the opinion of the authorities, this is necessary to protect the general public or clients.
If you are an EU/EEA citizen, have a license or trade as an insurance intermediary in another country and only wish to work in Germany temporarily, you do not need a license in Germany. However, you must notify the authorities in your home country of your intended activity.