How insurers have to pay in full in the event of a claim despite incorrectly answered risk questions Policyholders (UN) can lie to their future insurer (VR) with impunity on risk issues. All you have to do is find an insurer who is stupid enough not to conduct its business in accordance with the […]
A recent judgment could scare away potential whistleblowers. However, the financial supervisory authority Bafin is working on an anonymous reporting option. Johannes Fiala and Peter Schramm, who consider whistleblowers to be very important, should approve of this. Whistleblowers play an important role in monitoring the compliance of companies with the law – not least in […]
A report by the State Criminal Police Office of North Rhine-Westphalia on “Financial Investigations 2014” substantiates the suspicion of commission fraud by the number of submitted contract initiations in insurance sales. There were reports on two insurance brokers who had submitted their applications for endowment insurance policies (KLV) via three different pools. “The alleged beneficiaries/contractors […]
– OLG Cologne judges generally usual procedure of the PKV as inadmissible – In its judgment of 20 July 2012 (Case No.: 20 U 149/11), the Cologne Higher Regional Court ruled that a procedure used for decades by private health insurers for premium adjustments was incorrect. As a result, many premium adjustments since 1995 […]
– Products and concepts for formerly licensed intermediaries, brokers, tipsters and advisors – Investors lose up to more than €40 billion every year because they did not really understand the financial products sold to them – or were the victim of fraud. It is typical that even formerly unsuspicious competence bearers or their financial […]
– Why so-called Directors & Officers (D&O) liability insurance policies often do not cover – Manager liability instead of risk management Self-employed persons, i.e. tradesmen and freelancers, often use corporations for their own professional activities. Out of fear of so-called “liability for breaching private assets”, you then have a manager liability insurance policy sold […]
Why you should cancel an insurance policy After taking out an insurance policy, there are Insured persons have two options contractual relationship with your insurer to terminate the contract: On the one hand, the contract can be terminated – like any contract- under Compliance with the legal deadlines informal and on the other hand, it […]
The distribution right as a framework for determining sales In a world oriented towards sales and distribution, with internationally organized markets and global exchange of goods, the distribution law forms the legal framework for regulating the distribution of goods at the national and international level. The distribution law does not describe a “set of legal […]
The basis for economic and social cooperation Every day, we conclude private or business contracts in different types. These conventions regulate at different levels the social interaction and orderly dealings of different parties with one another. The formulation of contracts takes place within the framework of the legally possible, always with an eye to the […]
Banking law: errors in advice, credit traps and more As a lawyer for banking law, I know that a bank has been part of our daily life since our earliest childhood. Just remember your first savings book, which you probably got at primary school from the nice savings bank advisor next door. We withdraw money, […]
