Choice of law and advantages of European life, pensions and health insurance

– Opportunities and risks for policyholders and their insurance brokers –   Foreign insurance companies, especially those from the European Economic Area (EEA) and the European Union (EU), are increasingly competing with domestic suppliers. For insurance intermediaries and insurance customers, this creates risks, but also opportunities.   Regular notification procedure EEA and EU insurers must […]

Roulette in life and pension insurance entitlements

– When assets go to the wrong beneficiary on death -.   The race between heirs and beneficiaries in the event of death Even in the normal case of a revocable subscription right, a notification from the insurer to the beneficiary is still required after the death of the policyholder, according to which the beneficiary […]

Life insurance companies and foundations from Liechtenstein, Bermuda, Switzerland and Papua New Guinea

– When structures for asset protection and succession planning are ineffective – Banks and insurance companies, as well as financial advisors from Germany and abroad, are praising foreign camouflage constructions via prospectuses and appraisals. This should make it practically possible for assets of 100,000 euros or more to constitute a secure succession arrangement by circumventing […]

Alternatives to occupational pensions instead of insurance solutions

– When government subsidies and legal requirements later become a yield trap –   Increasing periods of employment in the low-wage sector or as a Hartz IV recipient reduce the prospects of the subsistence minimum in working life as well as later as a pensioner. While a fine may not affect the garnishment-free income, Hartz […]

German statutory pension insurance and private foreign pension insurance for self-employed persons

– Why there are hardly any recommendable domestic products left for insurance intermediaries – The group of self-employed consists of about 1.2 million freelancers and about 3.0 million tradesmen. The freelancers are predominantly Compulsory members of one of the more than 90 pension funds or pension chambers. There, however, funded savings are proving to be […]

Insurance Law

Insurance law: inform in good time Nowadays, there is almost no aspect of life that cannot be covered by a insurance. The field of insurance law is broadly diversified and applies both in the area of private provision and in corporate risk minimization. Many insurances are almost regarded as basic equipment for a “carefree” life. […]

Bundesfinanzhof: How to obtain insurance cover

The Federal Court of Finance (BFH, ruling of 07.12.2016, file no. II R 1/15) decided that when the policyholder (VN) provides insurance cover for any insured person (VP), the full, non-aggregated sales price counts as the assessment basis for the insurance tax (VSt): The prerequisite for this is that the insurer (VR) participates in the […]

Why private and business secrets are mostly unprotected by insurance intermediaries

Most policyholders believe that their private and business secrets entrusted to the insurance agent and broker are protected. But in fact the situation is quite different, and the protection is often no better than if you had entrusted them to your hairdresser.   No reliance on the legal private secret The Higher Regional Court of […]

Framework contracts in professional liability insurance

Laws and professional codes of conduct require many professions to take out liability insurance for financial loss, but also sometimes for personal injury and damage to property. The content and scope of the minimum insurance is regulated differently depending on the profession. If a GmbH provides tax advice, financial losses amounting to € 250,000 must […]

Foreign insurance – opportunities and risks

Foreign insurance companies, especially those from the European Economic Area (EEA) and the European Union (EU) are increasingly competing with domestic providers. For insurance intermediaries and insurance customers, this creates risks, but also opportunities.   EEA and EU insurers must obtain a certificate from their home financial supervisory authority that they have sufficient own funds. […]