Bundesfinanzhof: How to obtain insurance cover

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 […]

Supermarkets are pushing into insurance sales

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 […]

Experts warn brokers against ruinous competition with insurers

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, […]

What the tariff change broker never reveals and rarely knows

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 […]

IDD: Berlin’s draft law holds some serious surprises

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/