The Federal Court of Finance (BFH, ruling of 07.12.2016, file no. II R 1/15) decided that when the policyholder (VN) provides insurance cover for any insured person (VP), the full, non-aggregated sales price counts as the assessment basis for the insurance tax (VSt): The prerequisite for this is that the insurer (VR) participates in the […]
Policy sale next to the deposit machine? Why not! Lawyer Johannes Fiala and actuary Peter A. Schramm explain how discounters and full-range retailers could circumvent the strict rules for insurance brokerage. Insurance intermediaries have to face growing competition from online comparison portals and brokers as well as direct insurers. Tech giants like Google and […]
The implementation of the Directive EU 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution, i.e. the Insurance Distribution Directive (IDD) by Section 43c of the German Insurance Supervision Act (VAG), leads to financial risks for insurers (VR) and insurance brokers (VM). The insurer may be allowed to […]
The IDD change in the law enables the granting of discounts for insurance and sales control according to the type of landlord. Dr. Johannes Fiala and Dipl.-Math. Peter A. Schramm explain why brokers must obviously be controlled by insurers. According to the “Draft Law on the Implementation of Directive (EU) 2016/97 of the European […]
Insurance companies and independent brokers are in a competitive relationship. This competitive situation arises simply from the insurer’s statutory obligations to provide advice to a customer. The lawyer Johannes Fiala and the actuary Peter A. Schramm point out this fact, which is actually known, in an exclusive commentary for FONDS professionell ONLINE. In addition, […]
The draft for the IDD Implementation Act is causing a great stir in the insurance industry due to the still existing ban on commissions. Lawyer Johannes Fiala and actuary Peter Schramm have examined the draft and show that the ban is not dead. The legislator would like to strengthen fee-based advice as part of the […]
The Ministry of Economic Affairs has submitted a draft bill to transpose the EU Insurance Distribution Directive IDD into German law. Accordingly, the ban on commissions remains in force and in future there will be “fee-based insurance consultants The SHI system should become more attractive for the self-employed. In the guest article, attorney Dr. Fiala […]
The Ministry of Economics has submitted a draft law to implement the EU Insurance Distribution Directive IDD into German law. Accordingly, the ban on commissions remains in place and in future there will be “fee-based insurance consultants. www.fondsprofessionell.de (published on 22.11.2016) Link: http://www.fondsprofessionell.de/news/recht/headline/idd-berliner-gesetzentwurf-birgt-handfeste-ueberraschungen-128945/
“Until the day they rationalize me away, Or simply sort me out as non-programmable, When the big computer comes and monitors everything, Makes my preferences and quirks fully understandable, Even if I am already completely machine-readable” (Reinhard Mey) The decision by politicians not to replace the current ban on commission payments with a new […]