Licence to provide services of an insurance broker

A person is deemed to have acquired professional knowledge required for the issue of a licence to provide insurance brokerage services if they have at least secondary education and show suitable knowledge in the following fields:

1. insurance basics, and ethical and legal basics in insurance;

2. non-life insurance; and

3. personal insurance.

In addition, they must also:

– prepare a suitable analysis of threats and suitable coverage principles for policyholders,

– prepare an assessment of capital adequacy of the insurance company on the basis of expert information for policyholders,

– provide brokerage services for policyholders when concluding insurance, which provides the greatest protection in view of the circumstances of an individual case,

– inform the insurance company of the policyholder's offer to conclude an insurance contract,

– inform policyholders of the rules for the calculation of the premium,

– verify the contents of insurance policies,

– provide assistance for policyholders for the duration of the insurance contract prior to and during an insurance case, and ensure that policyholders carry out legal actions that are important for the preservation and realisation of rights from the insurance contract within deadlines determined for the execution of these actions,

– regularly verify insurance contracts concluded by policyholders with their brokerage, and prepare proposals for changes to these insurance contracts in order to obtain better protection.

The test of knowledge for insurance brokers is composed of written and oral elements.

Evidence

Certificate of a test of professional knowledge passed to provide insurance brokerage services.

Legal basis

• Insurance Act (ZZavar-1)
• Decision on the conditions to perform the services of insurance agents or brokers

An insurance agent must have at least one year’s experience in insurance transactions which they have acquired on the basis of employment or other legal relationship with an insurance company or an insurance agency or a brokerage company.

Evidence

Evidence of work experience

Legal basis

• Insurance Act (ZZavar-1)

Persons who wish to acquire a licence to independently provide insurance brokerage services must be proficient in Slovenian.

Legal basis

• Insurance Act (ZZavar-1)

Criminal records are records of natural persons and legal entities convicted res judicata in the Republic of Slovenia, and records of citizens of the Republic of Slovenia convicted res judicata abroad.

These are uniform records for the entire country and are managed by the Ministry of Justice of the Republic of Slovenia which is also responsible for submitting information on the basis of a written application or an application submitted electronically.

A certificate of no criminal record is proof that the person has not been entered in the aforementioned records.

There is no administrative fee.

Legal basis

• Rules on criminal records

The eligible person (natural person or legal entity) sends an application to Ministrstvo za pravosodje (Ministry of Justice), Župančičeva 3, 1000 Ljubljana, or submits it to the security officer at the Ministry of sends it via fax to 01 369 56 25.. A natural person may also submit an electronic application via the ESJU system (electronic public administration services) if they have a digital certificate. There is no administrative fee.

Applicants for insurance brokers cannot acquire a licence to purse the activity of insurance brokerage if their licence to provide insurance brokerage services was withdrawn less than five years ago.

The Insurance Supervision Agency withdraws a licence to provide insurance brokerage services:

1. if the licence has been acquired by stating false information;

2. if the insurance broker has been unconditionally convicted res judicata of a criminal offence against property and the economy for more than three months;

3. if the insurance broker repeatedly violates the provisions of Article 225 of the Insurance Act (ZZavar);

5. if the insurance broker has violated good business practice when providing insurance brokerage services;

6. if the insurance broker does not have professional liability insurance pursuant to the fourth paragraph of Article 222 of the Insurance Act (ZZavar);

7. if the insurance broker repeatedly violates the obligations arising from Article 221 or from the first, second or third paragraph of Article 222 of the Insurance Act (ZZavar).

Legal basis

• Insurance Act (ZZavar-1)

Insurance brokerage companies and insurance brokers must have professional liability insurance for an insurance sum that must not be lower than EUR 1,250,618 per one claim for damages or EUR 1,875,927 for all claims for damages in one year.

Evidence

Copy of the insurance policy on professional liability insurance concluded

Legal basis

• Insurance Act (ZZavar-1)
• Decision on the publication of amended amounts for brokers and insurance brokerage companies liability insurance