Concluding contracts with insurance companies and credit institutions, for example by means of touch input on a tablet computer or other systems for electronic signatures, has been on the rise for years. In the foreground is the effort to save the printing of documents – including online consulting as a distance business. However, a data […]
The average life insurance saver calls the secure interest on the savings portion of the life insurance premium the guaranteed interest rate, which will last be a maximum of 1.25 percent p.a. in 2015. This limit is the maximum actuarial interest rate used to calculate the actuarial reserves, above which no life insurer is currently […]
The new GdV “Code of Conduct (CoC) Data Protection” – data protection code for short – regulates in Art. 20, among other things: “Personal data of insured persons or applicants may be transferred to an insurance broker if they have granted the broker a broker’s power of attorney.” In some cases, insurance brokers are massively […]
– Why Run Off is an issue for all life insurers -. All life insurance companies are largely in run off. This is because, with the exception of parts of the portfolio with the current guaranteed interest rate and unit-linked business, all other insurance contracts are actually just being wound up. because it’s closed to […]
Selected challenges and megatrends in financial services distribution The image of financial services sales of credit institutions and insurers has been suffering for years, especially due to TV documentaries about dubious business models or manipulation of interest rates, share prices and commodity prices. Product providers are also in the pillory, for example when up […]
– When insurance brokers can receive fees in addition to brokerage – “Tine flies like an arrow. Fruits flies like a banana.” (Groucho Marx) For decades, insurance brokers have competed with business and tax advisors, legal counsel, and insurance consultants. In this context, comprehensive insurance advice as pure legal advice is (also) part of […]
You can’t hold an insurer liable for every piece of information. When assurances of the insurer are worthless explain attorney Johannes Fiala and PKV expert Peter A. Schramm in the proven series over consulting errors with the switching of private health insurances. In order to be able to meet an important business partner, have […]
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 […]
In times of crisis, the question of the right banking partner immediately comes to the fore. Banks have repeatedly slipped into bankruptcy, with dramatic consequences for customers. It is therefore all the more important to observe a few basic principles ….. Positive bank capital secures loans A good and therefore stable bank has a […]
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 […]
