– What insurance customers should be aware of before or after they terminate – Countless brokers and advisors live from new business. So there is nothing more obvious than to persuade customers to cancel or sell their existing investments, especially life insurance policies. However, general statements about pension (RV) and life insurance (LV) policies […]
Artikel zum Thema: Nettopolicen
The additional remuneration agreement may be revoked
What compensation does the customer owe in the event of premature cancellation of his insurance premiums? The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. III ZR 124/13) decided that not only a broker but also an insurance agent can be promised a remuneration by his customer for brokering a life […]
Commission-free net policies: The additional remuneration agreement can be revoked
The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. III ZR 124/13) decided that not only a broker but also an insurance agent can be promised a remuneration by his customer for brokering a life insurance policy with a net policy. Capital investors and medium-sized companies are increasingly taking advantage of […]
Additional remuneration agreement can be revoked
The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. III ZR 124/13) decided that not only a broker but also an insurance agent can be promised a remuneration by his customer for brokering a life insurance policy with a net policy. Capital investors and medium-sized companies are increasingly taking advantage of […]
Net policies: additional remuneration agreement may be revoked
If a net policy is brokered, additional remuneration may be agreed. In the guest article, Dr. Johannes Fiala and Peter Schramm shed light on the conditions under which this must be paid even in the event of premature termination of the contract. The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. […]
Tax evasion through net policy brokerage
Destruction of existence through liability for insurance and sales tax? Since a ruling by the VG Frankfurt am Main, BaFin has no longer prosecuted violations by intermediaries of the commission fee ban, but insurers are still bound by it under supervisory law. Commissions can be up to more than 38 percent of the initial […]
Cross-border insurance broking with Switzerland, Bermuda or the USA: Where intermediaries should be careful in cross-border transactions
In recent years, foreign insurers have increasingly sought to enter the German market – in a variety of ways: In September 2013, for example, BaFin counted a total of 216 branches and branch offices of foreign institutions in Germany. The GdV reported at the end of September 2013 that primary insurers whose head office is […]
Courtage quo vadis? Guest Article
“Already on 27.04.2007 the Federal Ministry of Justice presented the draft of the “Ordinance on Information Duties for Insurance Contracts”. According to this, insurance intermediaries are to show their performance-related remuneration in euros and cents before the contract is concluded. Initially, only life insurance, occupational disability and accident insurance are to be affected. Property […]
Federal Court of Justice: Duty of care and brokerage claim with insurance brokers
Insurance brokers risk “head and neck” due to faulty brokerage contracts *by Dr. Johannes Fiala, lawyer (Munich), mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), lecturer for civil and insurance law (BA Heidenheim, Univ. of Cooperative Education), banker (www.fiala.de) and Hermann Siebenhaar, insurance broker (Neutraubling), court-appointed expert, lecturer (Univ. […]
Insurance brokers threatened with abolition of brokerage – EU Commission and Federal Government aim for complete transparency
Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer in Civil Law and Insurance Law (Berufsakademie Heidenheim, Univ. of Cooperative Education), Banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm (Diethardt), Actuary DAV, Expert for Actuarial Science, publicly appointed and sworn by the IHK Frankfurt am Main for Actuarial Science in Private Health Insurance […]