EU is planning commission: consequences for insurance advice in Austria!
EU is planning commission: consequences for insurance advice in Austria!
Laimgrubengasse 10, 1060 Wien, Österreich - The discussion about a possible commission ban for insurance brokers wins on trip. During a press conference in Vienna, the insurance broker dealt with the changes proposed by the European Commission as part of the Retail Investment Strategy (RIS). These include a remuneration restriction that refers to independent consultations on insurance system products. Specialist association chairman Christoph Berghammer urged: "A general ban on commission would be the end of insurance advice, and about 20 percent of the intermediaries would hire their work" like
A current study by the University of Regensburg shows that OECD countries with commission bans between 1997 and 2020 achieved a higher return on average. However, these results are criticized by many in the insurance industry that cite methodical defects and an inadequate database. The debate about the ban on commission remains intensive, since researchers and industry representatives challenge each other and represent different views on the effectiveness and the benefit of such regulations. Professor Steffen Sebastian, one of the study authors, argued that the waiver of a commission ban in Europe could lead to enormous loss of assets, which further fueled the discussion. research results and controversy
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| Ort | Laimgrubengasse 10, 1060 Wien, Österreich |
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