Higher Regional Courts of Karslruhe and Stuttgart sentence insurance companies

When insurance companies are liable alongside brokers for misadvice on pensions   Insurance companies are liable in the event of advice errors by insurance brokers By judgments of the Karlsruhe Higher Regional Court (OLG) of 02.08.2011 (Case No. 12 U 173/10) and Saarbrücken Higher Regional Court of 04.05.2011 (Case No. 5 U 502/10-76), insurance companies […]

Reduction of surplus in case of advertising with inflated example calculation inadmissible

– More than EUR 50 billion in additional claims possible for reduced maturity benefits – – Around 20 million affected with an average additional claim of up to more than EUR 10,000 per contract. Low interest rates destroy investment hopes for endowment life insurance policies For almost 10 years now, all investors in life insurance […]

Unisex – and what else?

Insurers are beating the drum for year-end business and advertising early unisex solutions. However, some intermediaries have a completely different problem. Particularly in the day-to-day business and in compensation, things are really sticking. portfolio international explains how the biggest pitfalls in everyday sales can be avoided. Shortly before Christmas, a more than 100-year-old practice of […]

Return knowledge for lawyers

Among lawyers, the old adage still applies: “iudex non calculat”. But a few days ago, an article1 appeared in the business section of the FAZ, which, due to the headline, did not reveal the explosive nature of the author’s comments on the subject of yields. In everyday life we often use terms about whose meaning […]

Client Information July 2008

Publisher: *by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Banker (www.fiala.de), ehem. Member of the examination board of the Munich Chamber of Industry and Commerce for the expert examination of financial advisors for financial services and financial services specialists, lecturer for civil law and […]

The 10 Commandments

How to avoid capital destruction via life insurance   In economic terms, life insurance policies are often investments that compete with traditional bank products. Intransparency, faulty advice and incorrect billing cost customers billions every year. In most cases, there is then a claim for back payment, reclaim or compensation. However, insurers will not pay without […]

Credit-funded immediate annuity: British life insurer sentenced several times

With leverage transactions investors are regularly deceived to yield and risk   Effortless wealth: the sales lie “over 12% yield” The Regional Court of Bamberg sentenced a British life insurer in several cases, whose agent had referred to past values “of more than 12%” yield to insurance customers. From this, the intermediary had then presented […]

On the (im)sense of rent deposit insurance

Sureties. Costs incurred due to loss of rent are often significant. Currently, agencies are entering the market with bail bonds. There may be black sheep among them. Bond insurance (see box on page 60) is on everyone’s lips at the moment.   “The real kicker here,” says Peter Schramm, an actuarial expert in Diethardt, “is […]

Bank liability or systematic investor damage?

“Trap salesmen” in credit institutions cause total losses with marketing slogans   Renowned credit institutions sold “guarantee” certificates and similar constructs, for example those of the Lehman Brothers Bank, to gullible bank customers as a safe investment: bank and savings bank advisors are thus often liable for reversals today.   Consultant Incompetence Trap The consultants […]

Insurance Quotes: Sample bills between non-binding and liability

– Wrong understanding creates error – wrong advice creates personal liability -.   Risk and return Insurance customers and intermediaries like to think that sample calculations tell them something about what the insurer (most likely) expects as the outcome of an investment in an insurance contract. That’s why prospective insurance customers also like to ask […]