Single Information Point for Active Insurance Intermediaries

The purpose hereof is to inform the visitor of the registry titled "Single Information Point for Active Insurance Intermediaries" (S.I.P. for Active Insurance Intermediaries) on the legal status of said registry, the details of said intermediary registered in it, as well as other useful information regarding its operation.

More specifically, the “S.I.P. for Active Insurance Intermediaries” was established in accordance with the provisions of article 19 of the law 4583/2018 "Adaptation of Hellenic Legislation to Directive 2016/97/EC of the European Parliament and the Council on 20th of January , regarding the distribution of insurance products" and is kept by the Union of Hellenic Chambers of Commerce (UHCC).

According to Directive 2002/92/EC, the goal of the “S.I.P. for Active Insurance Intermediaries” is to provide the consumers of insurance products with an integrated digital platform, in order to verify that the professional they come into contact with, within the framework of an insurance product sale, is legally registered in the registries of the Chambers of Commerce, is fully accredited and, consequently, performs the activity of mediation in compliance with the legislation in force.

Pursuing article 19 of the Law 4583/2018, every insurance intermediary is obligated to register with the competent regional Chamber of Commerce, which keeps a register of Registered Insurance Intermediaries along with a record of specific details. Registration is performed in compliance with specific terms and conditions, as they are explicitly described in articles 21 and 22 of the Law 4583/2018 and deemed valid for three years.

The “Single Information Point for Active Insurance Intermediaries” includes the details of the legally registered insurance intermediaries which are necessary for the aforementioned verification, and said details are kept in the Registers of regional competent Chambers of Commerce in Greece. The data kept by the “S.I.P. for Active Insurance Intermediaries” include name/company name, tax identification number, registered office, GENERAL COMMERCIAL REGISTRY (GEMH) number, Commercial Chamber of registration, registration class (insurance agents, insurance consultant coordinator, coordinators of insurance agents, insurance brokers, insurance intermediaries which practice as secondary activity the insurance intermediary), the date of issuance or renewal of the license of the insurance intermediary, the expiration date of the 3-year license, an indication regarding validation for the provision of insurance investment programs, as well as possible cross-border activities. All these data are provided by the Chambers of Commerce concerned.

The registration in the registers of the Chambers of Commerce and, therefore, in the “S.I.P. for Active Insurance Intermediaries” can be renewed according to article 23 of Law 4583/2018, every three years and, more specifically, within the first trimester from the completion of the three-year period.

In all cases, the sole responsibility for registration, renewal of registration, and any interim auditing of the supporting documents which the insurance intermediaries are obligated to submit following applicable law, including but not limited to, re-certification and professional liability insurance policies, is borne by the competent regional Chamber of Commerce in which the insurance intermediary is registered.