– When incomplete advice enables the complete reversal – The OLG Saarbrücken (judgement of 26.02.2014, file no. 5 U 64/13) decided that the insurance broker has to point out the differences between the Rürup or basic pension and other models of a flexible private pension (already: OLG Stuttgart, in: VersR 2007, 1069). For example, information […]
Disadvantageous tax burden in old age is not mentioned The Rürup pension was sold millions of times as a tax-saving model. As a matter of course, savings by paying insurance premiums in the savings phase are then precalculated by the agent or broker. However, if documentation has been prepared at all, it often lacks the […]
Incomplete voluntary disclosure and the consequences – When tax advisors can be liable under civil and criminal law alongside the tax evader (2) The ongoing discussion about tax evasion and voluntary disclosures in the media and in politics, most recently fuelled by the trial of Uli Hoeneß, also draws attention to the work of […]
Insurance and finance brokers liable for residual debt, or interest disadvantage? Life Insurance and Fixed Loan: A judgment of the Regional Court of Izehoe dated 29.01.2009 (Case No. 7 O 27/09) demonstrates a typical course of events in financing and insurance brokerage. The plaintiff had financed the construction of his house. His insurance and […]
The Higher Regional Court (OLG Hamm, decision of 5 December 2018, file no. 20 U 146/18) confirmed the dismissal of the complaint regarding the (alleged) miscounseling by an insurance broker when changing the cover of a private health insurance. The new private health insurer had later challenged the contract because of incorrect answers to the […]
A recent ruling of the Higher Regional Court of Cologne of 26.02.2016 (Case No. 20 U 102/15) underlines the “obligation of the broker to inform the policyholder that the intended change to private health insurance (PKV) may affect the insurance cover of his or her spouse and the financial burdens associated with it”. The spouse […]
– As the broker also has duties of protection against third parties – A recent ruling of the Higher Regional Court of Cologne of 26.02.2016 (Case No. 20 U 102/15) underlines the “obligation of the broker to inform the policyholder that the intended change to private health insurance (PKV) may affect the insurance cover […]
As of 22 May 2007, insurance intermediaries subject to licensing must, among other things, possess a VSH. For months, a price war has been raging in order to win the loyalty of as many intermediaries as possible – and they obviously have more plans for their addresses later on. The offers of the pecuniary damage […]
von Johannes Fiala is a lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.) and banker. Contact and more information at [2] www.fiala.de. Dipl.-Math. Peter A. Schramm is actuary DAV (Diethardt) and actuarial expert. Contact and further information at www.pkv-gutachter.de Employers and their associations are not yet sufficiently aware that […]
Investment brokerage: Investment brokerage (also called acquisition brokerage, especially in the insurance sector) is the pure brokering of a third party’s investment (no products created by the client). What is owed is the provision of information and the execution of the mediation, but no advice. The investor has a limited expectation here, because he only […]
