The Federal Court of Justice (BGH, ruling of 26 August 2018, file no. I ZR 274/16) expects the plaintiff, who feels that he has suffered damage after the re-coverage of life insurance policies, to present facts from which the probability of damage can be deduced for a declaratory action. An action for a declaratory […]
When selling, advising or brokering certificates and derivatives, special information is required to avoid liability towards investors. Credit institutions sold “guarantee” certificates and similar constructs to bank customers, for example the Lehman Brothers Bank, as a safe investment: numerous liability traps await bank and savings bank advisors. I. Consultant incompetence and conditions trap Certificates […]
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 […]
– 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 […]
by Ralf W. Barth, pecuniary loss liability broker (www.rwbfinanz.de) and Johannes Fiala, lawyer (www.fiala.de) Practical gaps in the intermediary’s VSH protection: A short story starts with the statement of an insurer that only the advice of the employer in the occupational pension scheme is insured in the scope of coverage – but not the advice […]
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 […]
Johannes Fiala Press Release No. 2/2005 *by Peter Schramm, expert and Johannes Fiala, lawyer Two decisions from 2005 will massively change the contracts of life insurers and the settlement practice in the future in favour of consumers: These are the BGH rulings of 12.10.2005 (Ref. IV ZR 162/03, 177/03, 245/03) and the Constitutional Court with […]
“Already on 27.04.2007 the Federal Ministry of Justice presented the draft of the “Ordinance on Information Duties for Insurance Contracts”. According to this, insurance intermediaries are to show their performance-related remuneration in euros and cents before the contract is concluded. Initially, only life insurance, occupational disability and accident insurance are to be affected. Property […]
Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer in Civil Law and Insurance Law (Berufsakademie Heidenheim, Univ. of Cooperative Education), Banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm (Diethardt), Actuary DAV, Expert for Actuarial Science, publicly appointed and sworn by the IHK Frankfurt am Main for Actuarial Science in Private Health Insurance […]
