Bavarian solution for business closures (BSV) of innkeepers is mostly unappealable “Panic Professor: the virus needs a host. So let’s close down all the economies: Basta!” “One person – one problem! No man – no problem!” (Stalin) Settlement with insurer (VR) on business closure insurance (BSV) invalid? A prestigious insurance law firm and a […]
Artikel zum Thema: Broker
How strong claims management becomes a dangerous “service”?
The Federal Court of Justice (BGH, ruling of 07.07.2020, ref. VI ZR 308/19) decided that an employed claims adjuster is (co-)liable in tort if he uses his alleged expertise for an injured party by exerting influence on the performance of third parties; § 823 I BGB. In the case in question, the injured party […]
Insurance benefits and insurance premiums in the event of insolvency of the insurance customer
Insolvency creditors normally have to register their claims in the table and can immediately write off up to more than 90%. The rate is often just above zero. Nevertheless, there are numerous exceptions to the rule of how to get your money despite the insolvency of the debtor. Maintenance obligations and intentional tort […]
Training liability in insurance, capital investment and bank sales
Why training and sales managers are personally liable in private health insurance sales. An analysis by attorney Dr. Johannes Fiala and mathematician Peter A. Schramm. Landauf Landab insurance brokers, independent financial service providers and bank advisors complain that at sales events held by trainers, they actually only experience positive product features through colourful pictures, […]
Pre-programmed old-age poverty despite additional private provision by those with compulsory insurance
– Why average earners only have prospects of receiving a basic security pension – Anyone who is employed as a worker with a continuous income until the age of 67 can expect to receive a net pension amounting to 50% of their last net income when they retire in the not too distant future. […]
Systematic change of status from insurance agent to broker
– How can legal assistance after a house search also have a mitigating effect? – An insurance tied agent may seek advice from a management consultancy, for example, analyse his stocks in order to improve his sales – provided that the regulations on data protection and professional secrecy are observed, § 203 StGB. Creative broker […]
Employers are often liable to employees for company pension schemes
– What information, education and advisory duties are imposed on employers? – The Regional Labour Court (Landesarbeitsgericht – LAG Hamm, judgement of 06.12.2017, file no. 4 Sa 852/17) decided that the employer (AG) is liable for damages if the advice on deferred compensation in company pension schemes (bAV) was incorrect. This was the case even […]
Federal Supreme Court prohibits insurance consultants from charging contingency fees for changing tariffs in private health insurance
– How the insurance consultant with a second job may do exactly this and more nevertheless – Insurance brokers as well as insurance consultants are allowed to offer policyholders (VN) in private health insurance (PKV) at the change of tariff according to the new tariff. § Section 204 of the German Insurance Contract Act […]
Why do insurance brokers have only limited duties of advice and documentation?
The Higher Regional Court (OLG Hamm, decision of 5 December 2018, file no. 20 U 146/18) confirmed the dismissal of the complaint regarding the (alleged) miscounseling by an insurance broker when changing the cover of a private health insurance. The new private health insurer had later challenged the contract because of incorrect answers to the […]
Brokers’ liability in the sale of used life insurance
– Obligation of the insurance broker to advise in the case of brokering in the secondary market for life insurance policies – An insurance broker was ordered to pay damages by the Higher Regional Court of Dresden (OLG, ruling of 29 February 2019, file no. 4 U 942/17) because he had not informed the policyholder […]