– Basic foreign values (ordre public) protect against access to assets – German courts also recognise Sharia law and, where applicable, apply it compulsorily if it does not contradict fundamental German legal concepts – especially the constitution. Conversely, German law is not applied abroad, even if it is fundamentally valid, if it contradicts the fundamental […]
The Federal Supreme Court (BGH, ruling of 27 June 2018, file no. IV ZR 222/16) decided that to insure the life of another (the insured person, CP), the consent of this CP is also required at a later date. This applies not only to the original conclusion of the contract, but also if only the […]
Renowned major banks and savings banks lead inexperienced treasurers and managers of municipal companies into an interest rate trap with billions in losses. This is a brilliant business for credit institutions – an estimated 40% of local authorities are affected. Allegedly exclusive concepts from the bank product department Speculation with foreign exchange […]
Banking law: errors in advice, credit traps and more As a lawyer for banking law, I know that a bank has been part of our daily life since our earliest childhood. Just remember your first savings book, which you probably got at primary school from the nice savings bank advisor next door. We withdraw money, […]
– Liability for faulty, incomplete sales training – by RA Johannes Fiala, banker (IHK), certified financial and investment advisor (A.F.A.), business economist (M.B.A., Univ.), court-appointed expert (financial services sector), IHK examiner (Finanzfachwirt), www.fiala.de Attorney Johannes Fiala explains exclusively for experten.de, at the example of the credit-financed pension, central solution beginnings, in order to come as […]
– How the state can ensure the efficiency of retirement planning for the middle class – After 31 years of work, average earners will only receive a basic pension (social welfare level, with up to less than 758 euros per month) – low earners would have to work 63 years in social security for […]
Publications – Technical papers Fiala/Schramm, Insolvency risk of British life insurers when relocating to Ireland, ExpertenReport, issue 7/2019, pages 60-62 Fiala/Schramm, When are insurers no longer obliged to pay benefits or can reduce benefits?Expert Report, issue 3/2019, pages 56-58 Fiala/Schramm, No insurance coverage in case of refusal to pay protection money, ExpertenReport, issue 11/2018. Pages […]
– Why average earners only have prospects of receiving a basic security pension – Anyone who is employed as a worker with a continuous income until the age of 67 can expect to receive a net pension amounting to 50% of their last net income when they retire in the not too distant future. […]
In some city archives historians find records of an annuity purchase – like these. What is behind it and what does it mean for us? Since then In the 13th century, the purchase of annuities was the predominant credit business of the Middle Ages. The future pensioner bought the right to receive a life […]
Members of the German Bundestag asked: “What legal obligations do life insurance companies have to inform their customers about the possibility of reducing claims before the contract is concluded, and what is the practice of life insurance policies as established by the Federal Financial Supervisory Authority (BaFin)? The answer of the Federal Government of […]
