Insurance mediation as commercial fraud

– How clueless facilitators and training managers go straight to jail instead of through LOS -.   On 05.11.2014, the Central Criminal Investigation Service Lüneburg arrested two insurance brokers for commercial fraud. The intermediaries induced their customers to terminate existing annuity and life insurance policies in order to subsequently take out new insurance policies that […]

Financial distribution without a licence and without supervision?

In 2007 at the latest, we began to regulate the free brokerage of financial products to a greater extent. Good reputation, liability insurance, proven expertise, the obligation to provide extensive information and documentation are standard. Some “old hands” have saved themselves into the new era without a certificate of competence. Since this year, financial investment […]

Illegal and legal purchase of used life insurance policies

Reversal options should be explored Life insurance policies are long-term contracts for which the intermediary must first determine whether the customer can really afford to pay the insurance premiums, often over decades. If the intermediary does not check the customer’s needs or the customer’s ability to pay, he is liable for investment losses (BGH judgement […]

Occupational pension schemes: U-funds without insolvency protection, up to 25 billion euros employer liability

by Johannes Fiala, Lawyer (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker ( The case ?XXX U-Kasse?: Once upon a time there was a U-Kasse in Ratingen, today you can only find the insolvency administrator on the Internet who is winding up this U-Kasse. The case went through […]