Revoking a life insurance policy is still a complicated matter. Some insurers will initially reject the revocation in a lump sum with text modules and in the second attempt simply acknowledge it with a remainder to customers and often pay the policyholder less than the surrender value. Well, I guess it’s good to have legal […]
The Federal Court of Justice has rejected the allegedly legal settlement of claims by insurance brokers. The insurance broker concerned now owes omission and compensation. What does that mean in concrete terms? No broker is allowed to settle claims for the insurer (VR) – with or without the usual additional remuneration. The so-called technical insurance […]
VW is not a criminal organization, just like Microsoft, BP, the FIFA or auditors (WPs) of Russian companies. Surely VW only admitted the objective circumstances in a legally preventive way, or rather admitted something of which perhaps until today one did not even know for sure whether one had done it at all – but […]
Revocation is often also possible in the case of occupational pension schemes (bAV). It leads to immediate payment claims for employers, but also sometimes for employees and their creditors. This is bitter for the insurers, but the beneficiaries also often go away empty-handed. Since a right of revocation still exists in large numbers today, […]
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) […]
Revocation is possible for life insurance policies (LV) for an eternal period. In the main, this may affect around 40% of life and pension insurance policies from the years 1995-2007 alone. This is based on rulings by the European Court of Justice (ECJ, ruling of 19 December 2013, Case C-209/12) and the Federal Court of […]
BVAG Versicherung is insolvent. In a guest article for FONDS professionell ONLINE, lawyer Dr. Johannes Fiala and actuary Peter A. Schramm state that brokers who brokered BVAG policies for their clients may now be held liable under certain circumstances. Net loss for the year 6.3 million euros Back in May 2013, the trade press […]
The new GdV “Code of Conduct (CoC) Data Protection” – data protection code for short – regulates in Art. 20, among other things: “Personal data of insured persons or applicants may be transferred to an insurance broker if they have granted the broker a broker’s power of attorney.” In some cases, insurance brokers are massively […]
Insolvency risks – Authority to provide legal services – Insurance cover Occupational pensions are an important component of retirement provision. They obtain their complex position in the German legal system through the interdisciplinary interaction of the most diverse fields of law, which can easily become a liability trap for legal and tax advisors; the numerous […]
– Where are the dangers for insurance brokers in covering with cancellation ? – The Federal Court of Justice (BGH, decision of 05.06.2013, ref. IX ZR 277/12) ruled that, according to settled case law, no insurer is obliged to reject an invalid termination of the insurance contract. The appeal was then withdrawn. Even BaFin […]
