TY - JOUR

T1 - Auswirkungen der EU-Vermittlerrichtlinie auf die deutsche Vermittlerlandschaft

AU - Schwarzbach, Christoph

AU - Klosterkemper, Christoph

AU - Lohse, Ute

AU - Graf V. D. Schulenburg, Johann Matthias

PY - 2011/8

Y1 - 2011/8

N2 - The german implementation of the Directive 2002/92/EC of the European Parliament and of the Council came into effect on may 22nd, 2007. Since then every insurance agent and broker needs to get a special permission and a registration from the chamber of industry and commerce. During the actual meeting with the potential client he has certain obligations about what to inform, on how to advise and to document the whole meeting. These additional duties will probably lead to increased costs for the insurancemediation (hypothesis 1). The law already shows that the legislator sees a difference between insurance agents and brokers. This disparity might also have an effect on the way the clients are attended (hypothesis 2). Obviously the implemented new laws resemble barriers to a market entry (hypothesis 3). The actual effects of this hurdle are to be analyzed. The abovementioned hypotheses are tested based on an empirical data set. This in turn originates from a repeated questionnaire of insurance agents and brokers in the first quarters of 2007 and 2009 respectively. Therein the costs were measured as the time for the mediation process including preparation and post-processing. Based on this data an increase in costs could not be demonstrated. Measuring only the necessary time, leaves out possible negative effects deriving from increased expenses for administration, additional office supplies or the required insurance. Also cost might have been incurred for initial training and changes made in the meantime. Already by law differences exist between insurance agents and brokers. Signs for a differing assistance towards the clients, e.g. longer time spent with the client by the brokers, a more complete initial information given by the brokers and different costumer groups, could be identified through the questionnaire. The implementation of the EU-regulation had clear effects on the market for insurance mediation. The total number of intermediaries has significantly decreased due to the exit of part-time agents. The law incorporates exceptions for experienced agents and brokers as well as those with an assumption of liability from an insurance company. An even greater reduction in the number of intermediaries was prevented by these exceptions.

AB - The german implementation of the Directive 2002/92/EC of the European Parliament and of the Council came into effect on may 22nd, 2007. Since then every insurance agent and broker needs to get a special permission and a registration from the chamber of industry and commerce. During the actual meeting with the potential client he has certain obligations about what to inform, on how to advise and to document the whole meeting. These additional duties will probably lead to increased costs for the insurancemediation (hypothesis 1). The law already shows that the legislator sees a difference between insurance agents and brokers. This disparity might also have an effect on the way the clients are attended (hypothesis 2). Obviously the implemented new laws resemble barriers to a market entry (hypothesis 3). The actual effects of this hurdle are to be analyzed. The abovementioned hypotheses are tested based on an empirical data set. This in turn originates from a repeated questionnaire of insurance agents and brokers in the first quarters of 2007 and 2009 respectively. Therein the costs were measured as the time for the mediation process including preparation and post-processing. Based on this data an increase in costs could not be demonstrated. Measuring only the necessary time, leaves out possible negative effects deriving from increased expenses for administration, additional office supplies or the required insurance. Also cost might have been incurred for initial training and changes made in the meantime. Already by law differences exist between insurance agents and brokers. Signs for a differing assistance towards the clients, e.g. longer time spent with the client by the brokers, a more complete initial information given by the brokers and different costumer groups, could be identified through the questionnaire. The implementation of the EU-regulation had clear effects on the market for insurance mediation. The total number of intermediaries has significantly decreased due to the exit of part-time agents. The law incorporates exceptions for experienced agents and brokers as well as those with an assumption of liability from an insurance company. An even greater reduction in the number of intermediaries was prevented by these exceptions.

UR - http://www.scopus.com/inward/record.url?scp=84873160063&partnerID=8YFLogxK

U2 - 10.1007/s12297-011-0146-2

DO - 10.1007/s12297-011-0146-2

M3 - Artikel

AN - SCOPUS:84873160063

VL - 100

SP - 369

EP - 387

JO - Zeitschrift fur die gesamte Versicherungswissenschaft

JF - Zeitschrift fur die gesamte Versicherungswissenschaft

SN - 0044-2585

IS - 3

ER -