Disclosure Obligations under Art. 45 VAG

Company Information

Pursuant to Article 45, paragraph 1, of the Insurance Supervision Act (VAG), we are required to inform you at first contact about several important matters:

• Our identity and address.
• Our role as independent brokers and representatives who are not subject to any financial or economic ties to insurance companies, with an exclusive duty of loyalty towards you.
• The possibility of inquiring about the professional qualifications and continuing education of our employees.
• Liability for omissions, errors, or incorrect information in our intermediary activities.
• The handling of personal data, including the purpose, scope, recipients, and retention of such data.

Right of Withdrawal under Art. 2a VVG

The policyholder has the right to revoke their application for the conclusion of a contract or their declaration of acceptance within a period of 14 days. This period begins upon the application or acceptance of the contract. For the revocation, a verifiable form such as email or other text messages (SMS, WhatsApp, etc.) is sufficient. Injured third parties may still assert claims against the insurance company despite the revocation. In such cases, however, the policyholder must pay the premium.

Training and Professional Qualifications

In accordance with Article 43 VAG, we are required to regularly train and develop our employees. To this end, we maintain a comprehensive employee development programme that places great emphasis on professional qualifications. Furthermore, we fulfil all Federal Council requirements for the training of insurance intermediaries.

Pursuant to Article 45, paragraph 1, letter c VAG, we are also required to inform you about how you can obtain insight into the qualifications of our employees. We confirm on behalf of all employees that we comply with these requirements:

• We always provide you with open and detailed information about the training of our employees.
• The professional qualifications of the employees who interact with you are presented to you through appropriate procedures.
• You have access at all times to comprehensive information about our training system.
• We employ staff who individually hold a diploma as a «Federally Certified Insurance Expert», an advanced professional certificate as an «Insurance Specialist with Federal Professional Certificate», or a diploma as a «Federally Certified Financial Adviser IAF».

Avoidance of Conflicts of Interest

Pursuant to Article 45a VAG, we are required to take appropriate organisational measures to prevent conflicts of interest in the intermediation of insurance services or to exclude any potential disadvantages for you. We confirm, in our own name as well as on behalf of all internal and external employees and management, that we act exclusively in your interest and do not maintain any separate brokerage agreements with insurance companies or other partners. We commit to an exclusive duty of loyalty within the meaning of Art. 412 ff. CO towards you.

In connection with this, we commit to an exclusive duty of loyalty towards you and warrant that:

• We are not subject to any bankruptcy or insolvency proceedings, judicial composition proceedings, or liquidation, have not ceased our business activities, and are not in any such situation by virtue of legal provisions.
• There is no legally binding conviction for any offence that would call our reliability into question.
• We have not committed any serious professional misconduct.
• We have fulfilled our obligations to pay social insurance contributions, taxes, and other levies.
• We commit to providing correct, truthful, and complete information within the scope of the mandate relationship.
• There is no legally binding conviction for fraud, corruption, participation in a criminal organisation, or other unlawful acts.
• We are not subject to any sanctions resulting from inaccurate or incomplete information in the fulfilment of mandates or from serious breaches of contract.
• We will take and disclose all measures to ensure that we are not subject to any conflicts of interest within the scope of our mandate relationships.
• We will not make any offers that promise unlawful advantages, and have not granted, received, or attempted to receive any financial benefits or benefits in kind as an incentive or remuneration for the award or acceptance of a mandate.
• We have not entered into any cooperation agreements or other arrangements with insurance companies that restrict our independence. Furthermore, no insurance company holds a participation in our company.
• We have not entered into any agreements with insurance companies that impair our independence, and do not hold, directly or indirectly, more than 10% of the capital of any insurance company.
• We do not employ any staff who hold a management position in an insurance company or who could otherwise influence the business operations of an insurance company.

Disclosure of Compensation from Insurers

For our services, we may receive an administrative compensation paid by the insurer. This compensation is disclosed in accordance with the statutory disclosure obligation under Article 45b VAG, with its amount and type determined by specific calculation parameters:

• Property, liability, cyber, legal protection, and transport insurance: up to 15% of the invoiced net annual premium
• Construction, surety, erection, and technical insurance: up to 15% of the invoiced net annual premium
• Equine insurance: 11% of the invoiced net annual premium
• Motor vehicle and fleet contracts: up to 15% of the invoiced net annual premium
• Compulsory UVG accident insurance: up to 5% of the invoiced net annual premium
• Supplementary accident insurance: up to 15% of the invoiced net annual premium
• Daily sickness benefits insurance: up to 7.5% of the invoiced net annual premium
• Health insurance: for basic insurance under KVG up to CHF 70.–, for supplementary insurance under VVG max. 16 x the invoiced net monthly premium
• Occupational pension funds and 1e plans: up to 7% of the pure risk annual premium
• Life insurance and pension policies: up to 5.5% of the one-time production sum calculated from premium × term in years

Due to changes in the structure or circumstances of individual insurance companies, deviations in the calculation parameters for compensation may occur.

During advisory meetings prior to the conclusion of insurance contracts, our employees will always transparently and to the best of their knowledge disclose the amount of compensation from the insurer. With regard to compensation for services in occupational pensions, we expressly point out that we strictly reject all types of additional volume-based, growth-based, or claims-based compensation. We confirm that we implement and comply with the legal requirements pursuant to Article 48k BVV 2 at all times.

At our first advisory meeting, we will inform you about the nature and origin of all administrative compensation.

Contact us

If you have any questions about this disclosure or about our intermediary activities, please contact us at info@northlake-partners.ch or visit us at our office in Zürich.