Why training and sales managers are personally liable in private health insurance sales. An analysis by attorney Dr. Johannes Fiala and mathematician Peter A. Schramm. Landauf Landab insurance brokers, independent financial service providers and bank advisors complain that at sales events held by trainers, they actually only experience positive product features through colourful pictures, […]
The difference between the right word and the almost right word is the same as between a flash of lightning and a firefly (Mark Twain, US storyteller and satirist, 1835 – 1910). Since many training courses of product providers and/or distributors are based on legal statements whose contents were not checked in advance, the […]
In its ruling of 3 August 2017 (Ref. V R 19/16), the Federal Court of Finance (BFH) decided that the establishment of a structured sales organisation is not exempt from VAT. In principle, this not only applies to structured sales organisations and other distribution companies and pools, but also to insurance intermediaries (agents), insurance brokers […]
In a letter dated 28 September 2017, the Federal Ministry of Finance (BMF) dealt with the future treatment of incorrectly designed contracts for occupational pension schemes (bAV). According to this, special payments by the employer in the event of calculation errors by the occupational pension scheme provider are liable to pay wage tax for employees. […]
The investment adviser must fulfil his main duties. He cannot rely on the assessment of third parties. One will be able to trust an experienced investment advisor that he is able to carry out a plausibility check based on the basic investment criteria and specific extensions to the investment category. Plausibility is the estimation […]
Life insurance policies for the repayment of construction loans The combination of several financial products (e.g. building loan and life insurance, real estate loan and building society contract) promises the investor additional income through possible interest rate differences or tax savings, and at the same time additional commission for the agent. However, it is not […]
Pitfalls for donors, donees and authorities What aspects and what legal situation are there to consider when making gifts? A gift to one’s own child, a parent’s foundation to support daycare facilities or such a facility itself can be an interesting option for tax optimization. In the case of gifts, no one is required […]
Because the market for private health insurance has become increasingly narrow, insurers are promoting poaching in other companies’ portfolios through training courses. The liability risk involved is downplayed. Few brokers are aware that the usual statutory minimum cover in VSH is often likely to be too low in view of the liability risk. The […]
The majority of occupational pension schemes in companies are restructuring cases – not only because of poor funding, but above all because of serious design errors. There is a threat of reversal. The establishment or design of occupational pension schemes in companies regularly leads insurance brokers and their “model suppliers” into the area of […]
The “knowing breach of duty” coverage gap. It is estimated that every fifth (1) liability case ends with the finding that the tax consultant/auditor (StB/ WP) has no insurance cover at all or insufficient insurance cover in terms of the amount in the pecuniary loss liability insurance (VSH) for the relevant loss. German insurers […]
