– Why a broker is allowed to give advice on changing tariffs for a contingency fee – The Federal Court of Justice decided (BGH, ruling of 28.06.2018, file no. I ZR 77/17) that an insurance brokerage contract does not require that the client is to be looked after on a permanent basis according to […]
The best proof in case of faulty advice is the advice documentation, because from this the gaps in the advice can be deduced. The few policyholders who receive expert advice (UN) often have a better chance of explaining the gaps in advice and possible mistakes. Conversely, however, insurance brokers and insurance agents also have far […]
A marketing expert remarked: “The best marketing agency is in Berlin – that is, the government”. First came the Riester pension with subsidised allowances, then the increasingly tax-deductible basic pension – also known as the Rürup pension. One financial services provider said: “The shift from state to private retirement provision is a growth market for […]
In its ruling of 28 February 2018, the Federal Court of Justice (BGH, Ref. XII ZR 94/17) ruled that “a spouse may terminate the fully comprehensive insurance policy for the family vehicle running on his or her partner even without the latter’s power of attorney”, as the press release did not quite put it: […]
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 […]
– Why do you lose your insurance cover without paying protection money? – The Federal Court of Justice (BGH, ruling of 16.06.2010, file no. IV ZR 229/09) decided on the case of a restaurant owner who was threatened with damage or destruction of his premises that burglary and/or vandalism risks are to be reported […]
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 Regional Social Court of Berlin-Brandenburg (ruling of 30 November 2017, file no. L 1 KR 446/15) ruled that civil servants “are to be regarded as entitled to state aid without restriction and thus otherwise secured”. Since 01.01.2009, it has been up to each civil servant to decide whether to take out a private […]
The Administrative Court of Frankfurt/Main (VG Ffm, Az. 7 L 3307/18.F) decided in its decision of 28.09.2018 – completely in line with the Federal Financial Supervisory Authority (BaFin) – that even regular payments by an intermediary (VM) to the policyholder (VN) declared as a reduction in premiums are prohibited as a commission fee, § 48b […]
The private health insurance has a legal obligation to provide advice if there is a recognisable reason – and even more so if there is an explicit request – § 6 VVG. This also includes “human care until the end of life”, for example through palliative and, if necessary, hospice treatment, as well as through […]
