The Federal Court of Justice unmasks the insurance industry’s sales fairy tales Emergencies abound in a person’s life, such as when a welfare application is imminent. The question of whether a plaintiff is entitled to legal aid under the poor law is also assessed according to the same standards. This is governed by § 90 […]
The liability of “freelance” agents and salaried insurance agents Dr. Johannes Fiala, Munich, and Peter A. Schramm, Frankfurt am Main If the insurance company has assumed unlimited liability for an exclusive agent or multiple agent, no permission is required to act as an intermediary – registration by the insurer is more or less a formality. […]
The Federal Fiscal Court (Bundesfinanzhof, BFH) has ruled that the VAT-exempt activity as an insurance intermediary consists not only in seeking customers but also in bringing them together with the insurer. As the Federal Fiscal Court stated in its ruling of 6 September 2007 (Ref. V R 50/05), the terms insurance agent and insurance broker […]
Johannes Fiala, Peter A. Schramm Endowment life insurance a legal scam? Already since the judgement of 03.06.1983 (Az. 74 O 47/83) of the regional court Hamburg the evaluation of the capital life insurance as “legal fraud” was judicially blessed. Professor Michael Adams (Univ. Cologne) followed this up in 1997 with his essay “Die Kapitallebensversicherung als […]
Value added tax in the insurance mediation – current iurisdiction * – Outsourcing, fee-based consulting, tipster, valve model, sales service and support *by Dr. Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm, expert for actuarial mathematics (Diethardt), actuary DAV, publicly […]
Economic consequences and possibilities of the new regulation The new law, which was discussed by the German Bundestag in its first reading on May 11, 2006, and which is intended in particular to secure private old-age provision for the self-employed, came into force on March 31, 2007. For self-employed entrepreneurs, the question arises as to […]
Guarantees with British people usually only at expiration British with-profits policies provide for lower guarantees than the endowment policies offered by German life insurers. These guarantees are also based on the scheduled expiry date and therefore do not usually apply in the event of early termination or partial termination (partial withdrawals). British life insurers invest […]
Additional claims in the multi-digit millions possible Dr. Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ. Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer for Civil Law and Insurance Law (Univ. of Cooperative Education), Bankkaufmann Dipl.-Math. Peter A. Schramm, actuary DAV, expert for actuarial mathematics, publicly appointed and sworn by the […]
Additional claims in the multi-digit millions possible Guarantees with British usually not until the expiration British with-profits policies see lower guarantees than those provided by offered by German life insurers Endowment life insurance. These guarantees are also based on the scheduled expiry date and shall apply therefore usually not in the case of premature Termination […]
. . and equity financing with life insurance Life insurances for the redemption of construction financing – The combination of different financial products (construction loan, life insurance, real estate loan, building society savings contract etc.) promises the investor an additional income through possible interest rate differences or tax savings, and at the same time additional […]
