Empty hope: Beneficiary status through subscription rights in life insurance

The subscription right regulates who is entitled to the agreed benefit in the event of an insured event. Insured persons can determine their individual subscription rights in order to avoid disputes later on. Why can someone else become a beneficiary in case of doubt despite the subscription right?   Can subscription rights be revoked? The […]

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 […]

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. […]

Systematic change of status from insurance agent to broker

– How can legal assistance after a house search also have a mitigating effect? – An insurance tied agent may seek advice from a management consultancy, for example, analyse his stocks in order to improve his sales – provided that the regulations on data protection and professional secrecy are observed, § 203 StGB. Creative broker […]

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 […]

Life insurance in Liechtenstein: Asset protection with total default risks

“If you have faith, it’s all over.” (Stanislav Lec, Polish poet)   Asset protection is the separation of business and private risks or assets, including the integration of insurance protection. Risks to private assets stem primarily from the business sector (e.g. liability for break-through) or from financing, but also from separation/divorce or legal disputes.   […]

Deposit insurance for credit institutions and securities trading firms, Part 1

When maybe only 100,000 euros are secured and the rest becomes a restructuring profit for the bank….   The Financial Market Authority cannot prevent the insolvency of credit institutions, securities trading houses or insurance companies. For securities trading companies, the maximum compensation obligation is 90% of up to EUR 20,000. In the past, there was […]

Deposit protection at banks and insurance companies – a bankruptcy protection?

securing devices are to be found there, where there are threats to security. State supervision is also a sign of mistrust, not trust, the authors argue, asking who would feel safer there, where it is transported with a mine-proof armoured vehicle or In einem …with a nato-wire fence and an office secured by heavily-armed men? […]

Ineffective insurance contracts due to void brokerage authority

The importance of legally effective brokerage agreements is repeatedly pointed out. The team of authors, Dr. Johannes Fiala and Peter Schramm, explain in their contribution which difficulties arise for the parties involved due to missing, insufficient or too comprehensive brokerage powers.   The Federal Court of Justice (BGH, ruling of 29.05.2013, ref. IV ZR 165/12) […]