This work examines the legal relationships of the insurance broker with the parties to the insurance contract. The impacts arising from the implementation of the EU Insurance Mediation Directive into German law through the Act on the New Regulation of Insurance Mediation Law are also considered. By presenting the rights and obligations in the relationship between the insurance broker and the policyholder, the broker's special position of trust towards the policyholder is explained. Furthermore, the legal relationship between the broker and the insurer is investigated. In addition to the doctrinal classification, rights and obligations are also elaborated here. Overall, the dual legal relationship with its specific characteristics for the insurance broker is described. The conclusion of the study sheds light on the so-called broker pools, particularly regarding the question of what impacts may arise from insurers' participation in the broker pool's business.