Germany Business Insurance: Essential Coverage Explained
Guide to essential business insurance in Germany, covering liability, professional indemnity, cyber risks, and costs based on business type.
The exact change
Versicherungsmakler (insurance brokers): EUR 1,131,350 per claim / EUR 1,697,600 per year under the GewO
Versicherungsmakler (insurance brokers): EUR 1,564,610 per claim / EUR 2,315,610 per year under the GewO (updated October 2024)
Suggested change
Corrected the minimum coverage figure for Versicherungsmakler (insurance broker) professional liability insurance. A related figure, the Berufsgenossenschaft (BG) insurance ceiling, was also corrected from 5% to 10% in the article's paired FAQ data during a later consistency audit.
Why this is better
The mandatory minimum professional indemnity coverage for German insurance brokers under the GewO was raised in an October 2024 update, so the article's stale pre-update minimum coverage figures needed to be corrected to the current amounts.
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