Insurance – but with Whom? Bafin Forces Insurers to Get More Clarity

t-online

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Insurers do not always sell their products under their own name, but through partners. For customers, it is often unclear who the insurer is – this can have serious consequences.

versicherungsbote.de

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BaFin is targeting insurance under a foreign brand. In the future, it should be clearer for customers to see which company actually takes over insurance cover. Unclear terms and misleading advertising could have regulatory consequences. read more

Herbert Frommes Versicherungsmonitor

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Bafin wants to improve consumer protection in white label policies. In a circular, it will clarify how insurers should create the necessary transparency for customers. The failure of the insurer element had shown that this has been lacking so far. Customers should no longer have to look with a magnifying glass at white label policies in the future, who the insurer is© CC0 Public Domain The Bafin [...]

Versicherungswirtschaft-heute

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In future, consumers should be able to see at first sight which insurer is behind the policy in contracts for white label offers. Bafin demands more transparency from the industry and plans to do so more concretely. The supervisory authority has submitted a corresponding draft for a new circular for consultation. Bafin's contribution calls for clear labelling of the actual insurer in white label policies first appeared on insurance business toda…