The importance of legally effective brokerage agreements is repeatedly pointed out. The team of authors, Dr. Johannes Fiala and Peter Schramm, explain in their contribution which difficulties arise for the parties involved due to missing, insufficient or too comprehensive brokerage powers. The Federal Court of Justice (BGH, ruling of 29.05.2013, ref. IV ZR 165/12) […]
Artikel zum Thema: Claims settlement
Are insurance brokers without power of attorney risking their livelihoods?
– Reasons for the implementation of a “Code of Conduct” imposed by the insurer -. In principle, the principle of freedom of contract also prevails in insurance mediation. If an insurance broker refuses to comply with certain specifications of the insurer and to undertake to do so in advance vis-à-vis the insurer, the insurer […]
The fairy tale of the better private health insurance (PKV)
– Advantages of the statutory health insurance (GKV), which insurance brokers conceal – A PKV insured gets his tumor on the neck, an optic nerve and half of his tongue removed. The subsequent proton therapy – costs up to more than 43 TEUR – may not be paid by the PKV. The employer’s […]
Foreign life, pension and health insurance: Opportunities and risks for insurance companies and insurance brokers
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. In private health insurance we see only the beginning of a development here. EEA and EU insurers must obtain a certificate […]
OLG Oldenburg: Insurer cannot invoke statute of limitations after 13 years
– What insurance customers have to consider in the event of a claim in order to avoid the statute of limitations – The Oldenburg Higher Regional Court (OLG) ruled in its judgment of 19.12.2013 (Ref. 1 U 67/13) that an insurer (VR) cannot invoke the statute of limitations after years in the case of […]
Can there be a gap in the insurance cover despite the fact that there is no time limit for interruption after reinsurance?
An article from the series “Vermittlerrecht praktisch” of the DHBW Heidenheim: The OLG Celle (judgment of 10.05.2012, ref. 8 U 213/11) ruled: “If a policyholder who has changed his homeowners’ insurer cannot prove, within the meaning of Code of Civil Procedure section 286, to which time a tap water damage has occurred, so that it […]
Sales success or wasted legal additional income with the insurance broker?
– When insurance brokers can receive fees in addition to brokerage – “Tine flies like an arrow. Fruits flies like a banana.” (Groucho Marx) For decades, insurance brokers have competed with business and tax advisors, legal counsel, and insurance consultants. In this context, comprehensive insurance advice as pure legal advice is (also) part of […]
The pecuniary loss liability of the insurance broker and other financial service providers
What benefits the policyholder can expect from the insurer Passive insurance The aim of the insurance cover is to keep the policyholder free from liability obligations (BGH NJW 1967, 2203). This will also include claims for injunctive relief and removal pursuant to Section 1004 of the German Civil Code, for example in the case of […]
Property damage liability: Risks in the event of reorganisation and termination of insurance cover
– Whereupon in particular financial plant mediators in accordance with § 34 f exp. 1 GewO and intermediaries of financial services according to § 34 c GewO, as well as insurance brokers have to pay attention to – Currently, thousands and thousands of advisors and brokers are receiving notices from their asset protection liability […]
Public liability using the example of the Love Parade coverage gap
What entrepreneurs can learn from this for their own liability insurance 7.5 mi. Euro sum insured – instead of the usual 100 million minimum cover The Love Parade disaster in Duisburg after a mass panic was insured at an astonishingly low level. The amount of cover provided by the organiser’s liability insurance is obviously […]