(1) The insurer informs the policyholder in writing of his or her terms of contract, including the general terms and conditions of insurance, as well as the information set out in a statutory ordinance referred to in subsection (2), in good time before the policyholder submits his or her contractual acceptance. This information is provided clearly and comprehensibly, in keeping with the means of communication employed. If, on the request of the policyholder, the contract is concluded by telephone or using another means of communication which does not permit the information to be provided in writing prior to the policyholder’s contractual acceptance, that information must be provided without undue delay after the contract has been concluded; this also applies if the policyholder explicitly waives the right to information by a separate written declaration prior to submitting his or her contractual acceptance.
(2) The Federal Ministry of Justice and Consumer Protection is authorised, with the consent of the Federal Ministry of Finance, to determine the following by statutory ordinance without the consent of the Bundesrat, for the purposes of providing comprehensive information to the policyholder:
1. which details of the contract, in particular in respect of the insurer, the benefit offered, the general terms and conditions of insurance and of revocation, are provided to the policyholder,
2. which other information is provided to the policyholder in respect of life insurance, in particular regarding the expected benefits, their determination and calculation, regarding a model calculation, and acquisition and distribution costs and the administrative costs, insofar as these are set off against insurance premiums, and regarding other costs,
3. which other information is provided in respect of health insurance, in particular regarding the development and form of insurance premiums, and the acquisition and distribution costs and the administrative costs,
4. what information is provided to the policyholder if the insurer has contacted him or her by telephone, and
5. in what manner this information is to be provided.
(3) The following are to be complied with when determining the notifications in accordance with subsection (2),
1. the information prescribed in accordance with Directive 2009/138/EC in the version of 27 November 2024,
2. the information prescribed in accordance with Directive 2011/83/EU in the version of 28 February 2024,
3. the information prescribed in accordance with Directive (EU) 2016/97 in the version of 5 December 2023,
4. the technical implementation standards established by the European Insurance and Occupational Pensions Authority in accordance with Directive (EU) 2016/97 in the version of 5 December 2023 and adopted by the Commission of the European Union in accordance with Article 15 of Regulation (EU) No 1094/2010 in the version of 27 November 2024, and
5. the delegated acts adopted by the Commission in accordance with Article 29 (4)(b) and Article 30 (6) of Directive (EU) 2016/97 in the version of 5 December 2023, in each case in conjunction with Article 38 of Directive (EU) 2016/97 in the version of 5 December 2023.
(4) The statutory ordinance referred to in subsection (2) furthermore specifies what information the insurer must communicate in writing throughout the policy period; this applies in particular in the case of changes to information previously supplied, further in respect of health insurance in the event of increases in insurance premiums, and regarding the possibility of changing tariffs, as well as in respect of life insurance with surplus sharing regarding the development of the policyholder’s entitlements.
(5) Subsections (1) to (4) do not apply to insurance contracts covering a jumbo risk within the meaning of section 210 (2). If the policyholder under such contract is a natural person, the insurer is to inform him or her in writing prior to the conclusion of the contract of applicable law and the competent supervisory body.