The Insurance Distribution Agreement is a crucial document used to establish and govern the legal and operational relationship between insurance companies and their distribution partners in Germany. It is specifically designed to comply with German insurance regulations, including the Versicherungsvertriebsverordnung (VersVertV), the German Insurance Contract Act (VVG), and the EU Insurance Distribution Directive (IDD). This agreement is essential when an insurer wants to distribute its products through third-party channels such as agents, brokers, banks, or digital platforms. It includes detailed provisions on regulatory compliance, professional requirements, customer protection, remuneration structures, and data protection obligations. The document ensures that both parties understand their responsibilities and operate within the German regulatory framework.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Identification of the insurer and distributor, including regulatory status and licenses
2. Background: Context of the agreement and brief description of the parties' business relationship
3. Definitions: Key terms used throughout the agreement, including regulatory terminology
4. Appointment and Scope: Terms of appointment, territory, and products covered by the distribution agreement
5. Regulatory Compliance: Obligations regarding insurance distribution regulations, including IDD requirements
6. Duties and Responsibilities: Specific obligations of the distributor including sales practices, documentation, and reporting
7. Training and Competency: Requirements for maintaining professional knowledge and competency
8. Remuneration: Commission structure, payment terms, and disclosure requirements
9. Customer Data and Privacy: GDPR compliance and data protection obligations
10. Documentation and Record-Keeping: Requirements for maintaining records of distribution activities
11. Reporting Requirements: Regular reporting obligations to the insurer and regulatory authorities
12. Audit and Supervision: Insurer's rights to monitor and audit the distributor's activities
13. Term and Termination: Duration of agreement and termination provisions
14. Post-Termination Obligations: Continuing obligations after agreement termination
15. General Provisions: Standard legal clauses including governing law, jurisdiction, and notices
1. Anti-Money Laundering: Required if distribution includes life insurance or investment-based insurance products
2. Sub-Contractors: Include if the distributor is permitted to engage sub-contractors or agents
3. White Labeling: Include if products will be distributed under the distributor's brand
4. Cross-Border Distribution: Required if distribution activities extend beyond Germany
5. Digital Distribution: Include for online or digital distribution channels
6. Claims Handling: Include if distributor has any role in claims processing
7. Marketing and Branding: Include if specific marketing requirements or brand usage rules apply
8. Professional Indemnity Insurance: Details of required insurance coverage if not included in general obligations
1. Products Schedule: List of insurance products covered by the agreement
2. Commission Schedule: Detailed commission rates and calculation methods
3. Service Level Agreement: Specific performance metrics and service standards
4. Compliance Manual: Detailed compliance procedures and requirements
5. Documentation Requirements: Templates and forms for customer documentation
6. Technical Requirements: IT systems and technical integration specifications
7. Training Program: Details of required initial and ongoing training
8. Reporting Templates: Standard formats for required reports and notifications
Authors
Find the document you need
Binding Authority Agreement
A German law-governed agreement delegating underwriting authority from an insurer to a coverholder, compliant with German insurance regulations.
Download
Standard Reinsurance Agreement
A German law-governed agreement between a reinsurer and primary insurer establishing terms for risk transfer and coverage obligations.
Download
Insurance Distribution Agreement
German law-governed agreement regulating insurance distribution relationships between insurers and their distribution partners, compliant with German insurance regulations and EU directives.
Download
Deductible Indemnity Agreement
A German law agreement establishing indemnification obligations with a deductible structure, detailing coverage, claims procedures, and payment terms.
Download
Life Insurance Agreement
A German-law governed life insurance contract establishing terms for death benefits and optional living benefits, compliant with VVG regulations.
Download
Key Person Agreement
A German law-governed agreement for securing and retaining critical employees, combining standard employment terms with key personnel-specific provisions.
Download
Insurance Indemnity Contract
German law-governed insurance indemnity contract establishing terms for risk coverage and indemnification obligations between insurer and insured.
Download
Risk Transfer Agreement
A German law-governed agreement facilitating the transfer of specified risks between parties, including risk management frameworks and regulatory compliance requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
