Schwarzbuch VW: Duty of risk management

How FIFA, Microsoft, WPs, BP and the Mafia are sued under the same law and pilloried through American glasses, Dr. Johannes Fiala and Dipl.-Math. Peter A. Schramm explain in a multi-part article.   The first part was about the “Racketeer Influenced and Corrupt Organizations Act”, a US federal law that makes this kind of jurisdiction […]

UK of the bAV can permanently reduce insolvency assets

Assets are protected from the insolvency administrator – in the event of death the situation is different: The Federal Court of Justice (BGH, ruling of 08.12.2016, ref. IX ZR 257/15) ruled that the general and insolvency-independent waiver of surrender of the (residual) assets of a provident fund (UK) for occupational pension provision (bAV) can be […]

Foreign insurance – opportunities and risks

Foreign insurance companies, especially those from the European Economic Area (EEA) and the European Union (EU) are increasingly competing with domestic providers. For insurance intermediaries and insurance customers, this creates risks, but also opportunities.   EEA and EU insurers must obtain a certificate from their home financial supervisory authority that they have sufficient own funds. […]

When the insolvency administrator takes hold

Direct insurance and term life insurance In the case of insolvency, a distinction is made between the actual insolvency proceedings and the subsequent good conduct phase lasting several years. Insurance benefits from private and company pension schemes (bAV), but also from term life insurance, can be paid out in both phases. The insolvency administrator will […]

When the insolvency administrator takes hold

Direct insurance and term life insurance In the case of insolvency, a distinction is made between the actual insolvency proceedings and the subsequent good conduct phase lasting several years. Insurance benefits from private and company pension schemes (bAV), but also from term life insurance, can be paid out in both phases. The insolvency administrator will […]