From the outside, all three look alike. The difference is on whose behalf that person works – and you have a right to be told at first contact.
Three roles, one licence: § 34d GewO
Anyone selling or advising on insurance commercially needs a licence from the Chamber of Commerce (IHK): an expertise exam, good standing, orderly finances and professional liability insurance (§ 34d (5) GewO).
| Role | Works for … | Paid by … | Law |
|---|---|---|---|
| Agent (Versicherungsvertreter) | one or more insurers | insurer’s commission | § 59 (2) VVG, § 84 HGB |
| Broker (Versicherungsmakler) | you, the client | brokerage included in the premium | § 59 (3) VVG |
| Fee-based adviser (Versicherungsberater) | you, the client | fee paid directly by you | § 59 (4) VVG, § 34d (2) GewO |
All three must be listed in the intermediary register (§ 11a GewO), run by the German Chambers of Commerce (DIHK) and searchable free of charge at vermittlerregister.info; every entry has a “D-” number and shows the status.
Agent, broker, adviser
- The agent is commissioned by an insurer and is legally a commercial agent (§ 84 HGB) – “in the insurer’s camp”. A tied agent offers one company’s products, a multi-tied agent several.
- The broker acts for you without an insurer’s mandate. In its 1985 “Sachwalter” ruling the Federal Court of Justice called him the client’s “trustee-like custodian” with wide duties to examine, warn and advise (BGH, 22 May 1985, IVa ZR 190/83). Anyone who appears to be a broker is treated as one.
- The adviser may take no economic benefit from insurers and is paid by fee only; any contract arranged must be a commission-free net tariff. Consumer advice centres note that fees are often not lower than commissions.
Brokerage agreement and “full mandate”
A brokerage agreement (Maklervertrag) usually has three parts: the mandate (which contracts the broker analyses, arranges and manages), a power of attorney (acting towards insurers for you – read it, you can strike out points) and the portfolio transfer (existing contracts are re-assigned to the broker; the contract itself does not change). A full mandate (Vollmandat) means all three for all your contracts, normally cancellable at any time.
How a broker is paid
The brokerage (Courtage) is part of the premium you pay anyway; the insurer passes it on. No invoice, but you still pay. Every intermediary must disclose this at first contact (§ 15 VersVermV). Passing commission on to clients is generally prohibited (§ 48b VAG).
Duties
- First information (§ 15 VersVermV): name, address, registration number, status, remuneration type, holdings, complaints body.
- Advice and documentation (§§ 61, 62 VVG): ask about your needs, justify each recommendation, document it before you sign.
- Liability (§ 63 VVG) – hence compulsory professional liability insurance of at least 1,564,610 € per claim and 2,315,610 € per year since October 2024 (EU Delegated Regulation 2024/896).
- Training: 15 hours a year (§ 34d (9) GewO).
How to proceed
- Ask “broker, agent or adviser?” and check the registration number.
- Read the brokerage agreement and power of attorney.
- Insist on the advice documentation before signing.
- Understand the remuneration – both commission and fee are fine if transparent.
General information, not legal, tax or investment advice. Sources: German Trade Regulation Act (§§ 11a, 34d GewO), Insurance Contract Act (§§ 59, 61, 62, 63 VVG), Commercial Code (§ 84 HGB), Insurance Mediation Regulation (§§ 12, 15 VersVermV), Insurance Supervision Act (§ 48b VAG), Delegated Regulation (EU) 2024/896, BGH ruling of 22 May 1985 (IVa ZR 190/83), DIHK intermediary register, consumer advice centres – as of October 2026. Want to know who manages your contracts today and in which role? Get in touch.
