Returns are of central importance in the professional life of a banker. Other financial service providers, such as pension funds, financial and investment advisors and credit intermediaries are also affected. The circle of affected professions also includes the rating agency and many a tax consultant/auditor (StB/WP) who is active in connection with Basel II. Often […]
It has already been decided in rulings by the Düsseldorf Higher Regional Court of 2 July 2008 (reference 7 O 212/06) and 11 December 2007 (reference I-4 U 205/06) that managing directors and other employees have no claim against the insolvency administrator of the provident fund for surrender of the life insurance policy taken out […]
The “knowing breach of duty” coverage gap. It is estimated that every fifth (1) liability case ends with the finding that the tax consultant/auditor (StB/ WP) has no insurance cover at all or insufficient insurance cover in terms of the amount in the pecuniary loss liability insurance (VSH) for the relevant loss. German insurers […]
– Misrepresentation of risk and return by bankers, underwriters and training managers -. False promises and greed for commissions lead to personal liability The German Federal Supreme Court (BGH) has ruled on 19.02.2008 (Ref. XI ZR 170/07) that an investment advisor had intentionally caused immoral damage, § 826 BGB: The advisor had recommended […]
A review of: Fiala / Nerb (eds.) Investments for wards and persons under guardianship Legal and financial mathematical basics for guardians and custodians Bundesanzeiger Verlag, Cologne 2003, 166 pages, 29.80 E ISBN 3-8981 7-280-5 www.bundesanzeiger.de It does not require any particular imagination to realise that the demographic factor, which has a major influence on the […]
debts life insurance policies New billing and additional payment The BGH judgements of 12.10.2005 (Az. IV ZR 162/03, 177/03, 245/03) and the Constitutional Court with its decision of 26.07.2005 (file no. 1 BvR 80/95) massively influence the contracts of the Life insurers and the Billing practice for an existing Life Insurance. The BGH is in […]
Life insurance: calculation of surrender value Life insurance companies owe re-bill and back pay – see also article on surrender value of life insurance policies The BGH judgements of 12.10.2005 (Ref. IV ZR 162/03, 177/03, 245/03) and the Constitutional Court with its decision of 26.07.2005 (Ref. 1 BvR 80/95) have a massive influence on the […]
Explosive liability risks for employers – reduced benefits for employees ! “Today I bake, tomorrow I brew and the day after tomorrow …” (Grimm’s fairy tale) Uncertain pension “The pension is safe” proclaimed the politicians. This was followed by an appeal to the citizens to build up a second pillar for old age, the occupational […]
Explosive liability risks for employers – reduced benefits for employees ! “Today I bake, tomorrow I brew and the day after tomorrow …” (Grimm’s fairy tale) Uncertain pension “The pension is safe” proclaimed the Policy. This was followed by an appeal to Citizens may want a second The mainstay of old age, the occupational (occupational […]
Explosive liability risks for employers – reduced benefits for employees ! “Today I bake, tomorrow I brew and the day after tomorrow …” (Grimm’s fairy tale) Uncertain pension “The pension is safe” proclaimed the Policy. This was followed by an appeal to Citizens may want a second The mainstay of old age, the occupational (occupational […]
