In Germany, insurance companies must report irregular practices by their insurance agents and office staff to the Federal Financial Supervisory Authority. The list of offenses to be reported includes theft, fraud, embezzlement, misappropriation of collection funds, computer manipulation – such as, in particular, the detour of money to the insurance intermediary’s accounts – and all types of subreption of commissions, such as, in particular: – falsifying applications; – accepting applications after deliberately misinforming the policyholder and accepting cancellation in the foreseeable future; – Acceptance of applications following an agreement with the policyholder to bring about cancellation in the foreseeable future; – Acceptance of applications following a commitment by the intermediary to assume payment of the premium; and – Acceptance of applications based solely on the intention of the policyholder to share in commissions and brokerage fees. Even the suspicious case must be reported; the result of investigations or the final amount of the loss need not be awaited. – See depeculation, financial fidelity, financial rogue, money embezzlement, wire fraud, undertunneling, conduct risk, embezzlement.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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