Protection of designations

(1) The designations "insurance" (Versicherung), "insurer" (Versicherer), "assurance" (Assekuranz), "reinsurance" (Rückversicherung), "reinsurer" (Rückversicherer), and corresponding foreign-language designations, or a designation containing one of these words, may be used in the company name, as an addition to the company name, to designate the business purpose, or for advertising purposes only by insurance undertakings within the meaning of section 1(1) and (3) and by their associations, unless otherwise provided by law. Insurance intermediaries may use the designations named in the first sentence only where these are supplemented by an addition that clarifies their status as an intermediary.
(2) In cases of doubt, the Federal Financial Supervisory Authority (Federal Institute) decides whether an undertaking is entitled to use the designations named in subsection (1). It must communicate its decision to the registry court.
(3) The Federal Institute is entitled, in registry-court proceedings relating to the entry or amendment of the legal relationships or the company name of undertakings that use designations impermissible under subsection (1), to file applications and to lodge the remedies permitted under the Act on Proceedings in Family Matters and in Matters of Non-Contentious Jurisdiction.
(4) Where an undertaking bears a company name or an addition to the company name whose use is impermissible under subsection (1), or where an undertaking uses such a designation, the registry court must delete the company name, the addition to the company name, or the object of the undertaking of its own motion; section 395 of the Act on Proceedings in Family Matters and in Matters of Non-Contentious Jurisdiction applies correspondingly. The undertaking is to be compelled to discontinue the use of the company name, the addition to the company name, or the object of the undertaking by the imposition of a regulatory fine; section 392 of the Act on Proceedings in Family Matters and in Matters of Non-Contentious Jurisdiction applies correspondingly.