Real estate financing: losses in the millions after financing and insurance advice

A previously unpublished judgement of the OLG Munich (file no. 20 U 4956/06), – because of decision on the non-acceptance appeal at the BGH (file no. 1/1 ZR 288/07 of 18.12.2008) legally binding -, proves the misadvice by insurance brokers in the financing even of million-dollar projects.   DM 110 million construction financing with life […]

100 per mille brokerage fee: liability trap or suicide for insurance brokers?

– How pools deliver their insurance brokers as partners directly to the knife –   “We illuminate the market”: 100 per mille brokerage fee – “extremely favorable” ? A broker pool lures with a remarkably high brokerage fee – but unfortunately this does not matter for the broker liability: After all, the advertised product, a […]

BGH: Brokered life insurance policies must correspond to the customer’s needs and ability to pay

With every second life insurance customer claim for damages possible – new billion liability for the insurance industry? Capital life insurance – legal fraud ?: 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 […]

Federal Supreme Court: Brokered life insurance policies must meet the customer’s needs and capabilities!

29.08.2007 12:33:05 (PA) With every second life insurance customer claim for damages possible – new billion liability for the insurance industry ? Capital life insurance – legal fraud ?: 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 was judicially blessed as […]

Federal Supreme Court: Brokered life insurance policies must meet the customer’s needs and capabilities!

29.08.2007 12:33:05 (PA) With every second life insurance customer claim for damages possible – new billion liability for the insurance industry ? * Capital life insurance – legal fraud ?: 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 was judicially blessed […]

bAV: Risk multiplication through leverage with the reinsurance of pension commitments

by Florian Nolte, Assessor iur. (nolte-florian@web.de) and Johannes Fiala, Attorney at Law (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de ) Preface This case, dear reader, is not real: similarities with (still?) living persons and GmbH�s, also of the contemporary history, are purely coincidental and not intended. […]

Optimisation of widow’s pensions for compulsory members of pension schemes

– Possibilities of structuring pension assets in pension chambers –   The Higher Administrative Court of Rhineland-Palatinate (OVG Rheinland-Pfalz, judgment of 26.05.2010, Case No. 6 A 10320/10.OVG) already dismissed the action of a doctor who wanted to have it established that his wife would later be entitled to a widow’s pension from the pension fund. […]

Extraordinary termination without notice of contractually non-cancellable insurance and other contracts

– How to immediately terminate long-term occupational and personal pension contracts -.   It is not only in private banks that it is common for employees to have to earn up to more than three times their gross salary. For bank customers, this means that up to more than 1% of their assets can go […]

Federal Ministry of Finance: Insurance intermediaries secure zero return on life insurance policies

– Why the days of effortless money-making via life insurance are long gone –   Agents’ commissions fall The Life Insurance Reform Act (LVRG) not only lowers the guaranteed interest rate for life insurance policies from 1.75% to only 1.25% from 2015, but also the permitted inclusion of acquisition costs through zillmerisation from 4% to […]

Roulette in life and pension insurance entitlements

– When assets go to the wrong beneficiary on death -.   The race between heirs and beneficiaries in the event of death Even in the normal case of a revocable subscription right, a notification from the insurer to the beneficiary is still required after the death of the policyholder, according to which the beneficiary […]