The Stuttgart Higher Regional Court (OLG) (ruling of 30 March 2011, file number 3 U192/10) sentenced a commercial broker after a claim for seven-figure underinsurance in building insurance. The minimum content of the advice must be “above all, advice and information on what risks should be covered, how the most effective cover can be achieved […]
In a guest article, Dr. Johannes Fiala and Peter Schramm explain why brokers should keep a close eye on the sum insured of their customers even after the contract has been concluded. The OLG Stuttgart (ruling of 30.03.2011, file no. 3 U 192/10) sentenced a commercial broker after a claim for seven-digit underinsurance in building […]
insufficient funds in the pecuniary loss liability insurance can quickly lead to (private) insolvency for lawyers, tax consultants and auditors. This is because almost every second chamber professional is inadequately insured against recourse arising from their professional activities. The book reflects typical sources of error and atypical activities with the usual standard coverage of insurers, […]
– When insurance brokers and agents are liable for the uninsured like insurers -. The German Insurance Association (GDV) puts the insured losses from the flood disaster in July at around €7bn. However, for damages that are not insured in whole or in part, the liability of the insurance intermediary, who often provides “support”, […]
– Why insurance contracts should be held by shareholders – For family entrepreneurs, the risk of insolvency has an annual probability of around 1%. Then an insolvency administrator takes over the management of the business, whereby a conflict is pre-programmed if the interests of the former managing director are different from those of the […]
If flood victims do not have natural hazards insurance, they may be able to hold their insurance agent liable. Brokers as well as agents have to find coverage risks, advise accordingly and document this completely. A lack of documentation can put intermediaries in dire straits, because it reverses the burden of proof. This is what […]
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. […]
The Federal Court of Justice (BGH, ruling of 09.02.2018, ref. V ZR 311/16) decided that a property owner who has a craftsman carry out repair work on the house is responsible – i.e. liable – to the neighbour. In the present case, the house had burned down after roofing work due to an embers nest […]
The SPIEGEL wants to have uncovered dark machinations of the great German car managers. If the revelations prove true, Daimler, BMW, Audi, Porsche and Volkswagen may face severe fines amounting to billions. Up to ten percent of annual turnover can be fined in cartel proceedings. And these are not peanuts in the German “Big Five”. […]
The Federal Court of Justice (BGH, ruling of 10 March 2016, file no. I ZR 147/14) decided: “The obligations of the insurance broker to provide information and advice primarily include the questions of which risks the policyholder should insure, how the most effective cover can be achieved, with which risk carrier the cover can be […]
