Practice Area
Insurance Intermediary Law & IDD
Intermediary businesses operate at the intersection of trade regulation, supervisory practice, contract law and liability. We support insurance brokers, agents, banks, financial advisers and representative bodies where these areas meet: in advice documentation, distribution agreements, liability cases and business transfers.
When to Seek Advice
When Clients Come to Us
- A client alleges negligent advice.
- Advice and documentation processes need to withstand regulatory scrutiny.
- Agency, brokerage or cooperation agreements need to be drafted or terminated.
- The portfolio or business is to be transferred, sold or acquired.
- Supervisory or trade licensing matters need to be clarified.
Typical Scenarios
The Legal Issues Involved
Advisory and Information Duties
Demands and needs assessment, advice records, remuneration disclosure and status disclosure—establishing and reviewing documentation that stands up in a liability case.
Intermediary Liability
Defending and pursuing claims for alleged negligent advice, including allocation of responsibility between the parties involved and cover under professional indemnity insurance.
Distribution Agreements and Commissions
Agency, brokerage and cooperation agreements, renewal commissions, portfolio rights, compensation claims, and non-compete and confidentiality clauses.
Portfolio and Business Succession
Acquisition, sale and transfer of intermediary businesses—portfolio valuation, transfer of client data, allocation of liability and statutory warranty obligations.
Our Approach
How We Handle Your Matter
Review authorisation and contractual arrangements
Reviewing trade authorisation, register entries, contractual arrangements and documentation practices.
Check procedures against the IDD and the Austrian Trade Regulation Act
Checking existing procedures against the requirements of the IDD and the Austrian Trade Regulation Act.
Prioritise measures according to legal requirements
A prioritised action list: what is legally mandatory, what is advisable and what is unnecessary.
Implement contracts and processes
Implementation in contracts, templates and processes—practical rather than formulaic.
Represent your interests in dealings with clients and authorities
Representation in dealings with clients, insurers, authorities and courts.
Legal Framework
Key Legislation
- IDD
- Insurance Distribution Directive (EU) 2016/97—advice, remuneration transparency, continuing professional development and product oversight.
- GewO
- Austrian Trade Regulation Act—authorisation, professional rules and information duties in insurance distribution.
- VersVG / ABGB
- Contractual and damages-law foundations of intermediary liability.
Initial Consultation
Documents for the Initial Consultation
The more complete the documents, the more reliable the initial assessment.
- Trade authorisation and register extract
- Agency, brokerage or cooperation agreements
- Advice records and client documentation for the matter concerned
- Professional indemnity insurance policy covering financial loss
- For succession: portfolio overview and any existing drafts
Insurance Intermediary Law & IDD: Discuss Your Case
Call or write to us—we generally respond within one working day.
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