Surrender values of British policies often below statutory minimum surrender value

Additional claims in the multi-digit millions possible Guarantees with British usually not until the expiration British with-profits policies see lower guarantees than those provided by offered by German life insurers Endowment life insurance. These guarantees are also based on the scheduled expiry date and shall apply therefore usually not in the case of premature Termination […]

Liability for occupational pension schemes ?

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 […]

Liability for occupational pension schemes ?

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 […]

+++Liability for occupational pension schemes ?

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 […]

Confession of the insurance industry: Liability for occupational pension schemes?

Explosive liability risks for employers – reduced benefits for employees! “The pension is safe” proclaims the politicians. This was followed by an appeal to the citizens to build up a second pillar for old age, the occupational pension scheme (bAV) – in particular through deferred compensation. Clever sellers, especially of insurance products, seized the opportunity. […]

Initiator support and controlling: When BaFin prohibits PKV sales and orders liquidation

*by Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm, actuary DAV (Diethardt), actuarial expert (www.pkv-gutachter.de) For initiators and distributors it is of crucial importance that all necessary permits are available ? including audited prospectuses. However, there are always initiators who […]

Deposit insurance of British life insurers

*by Peter Schramm, actuary and Johannes Fiala, lawyer The magazine Finanztest (issue 09/2005, p.38 f.) reports that with British policies there is ‘no protection against bankruptcy’ because the money of German customers is ‘not protected in the event of insolvency’. Respected lawyers in the service of British insurers are also damaging sales by making the […]