Disclosure requirements

The disclosure requirements set out in Article 45 ISA apply to all insurance intermediaries (registered or unregistered).

Under Article 45 para. 1 let. b ISA, once insurance intermediaries establish contact with an insured, they must provide that person with at least the following information:

  • their name (identity) and address; 
  • whether the insurance cover offered in a specific class comes from one or several insurance companies, and the identity of the insurance companies in question; 
  • the nature of their contractual relationship with the insurance company/companies for which they are acting and the identity of the companies in question; 
  • the person who is liable for negligence, errors or incorrect information relating to their activities as intermediaries; 
  • the processing of personal data, in particular the purpose, extent and recipients of these data and their retention.

This information must be made available on a permanent basis accessible to the insured (para. 2).

Muster eines Informationsblattes nach Art. 45 VAG

Für ungebundene Vermittler

Updated: 07.09.2016 Size: 0,17  MB
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Muster eines Informationsblattes nach Art. 45 VAG

Für gebundene Vermittler

Updated: 07.09.2016 Size: 0,11  MB
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Disclosure requirements under Article 190 ISO

Insurance intermediaries must, as prescribed in Article 45 ISA, inform their clients appropriately during their interactions about any changes that may have occurred.

Disclosure requirements where key functions from an insurance company through an insurance intermediary (outsourcing) have been acquired

Where an insurance intermediary takes on outsourced key functions from an insurance company (e.g. handling claims, portfolio management, product development, etc.), the information sheet must be updated under Article 45 ISA. For further information, see here.