Curtailment Life insurance

Reduction of life insurance: No information obligation for life insurers on reduction possibilities

Members of the German Bundestag asked: “What legal obligations do life insurance companies have to inform their customers about the possibility of reducing claims before the contract is concluded, and what is the practice of life insurance policies as established by the Federal Financial Supervisory Authority (BaFin)?   The answer of the Federal Government of […]

Sanctions and their effects, Part 2

In the second part on sanctions and their effects, attorney Dr. Johannes Fiala and Dipl.-Math. Peter A. Schramm present further cases – from the Russian sanctions via Cuba and Turkey to the acquisition of real estate by terrorists.     Anti-terrorism lists or ordinances could also be (or are they) null and void? Regulations 881/2002 […]

Protocols should ensure high quality advice

The Bundesgerichtshof (BGH, ruling of 13.11.2014, Ref. III ZR 544/13) has recently decided that the failure of the insurance broker to comply with the documentation obligation under Section 61 (1) of the German Insurance Supervision Act (Versicherungsvermittler). 1 sentence 2, § 62 of the German Insurance Contract Act (VVG) may lead to a shift in […]

Are you really well advised?

When it comes to a >g id=”gid_0″>successful retirement provision, insurance agents or brokers are usually the first people to contact. In some cases a complete reversal of the contract is possible.   The OLG Saarbrücken (judgement of 26.02.2014, file no. 5 U 64/13) decided that the insurance broker has to point out the differences between […]