*by Peter Schramm, expert and Johannes Fiala, lawyer Two decisions from 2005 will massively change the contracts of life insurers and the settlement practice in the future in favour of consumers: These are the BGH rulings of 12.10.2005 (Ref. IV ZR 162/03, 177/03, 245/03) and the Constitutional Court with its decision of 26.07.2005 (Ref. 1 […]
*by Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), EC expert (C.I.F.E.), lecturer (Univ. of Cooperative Education), banker (www.fiala.de) and graduate mathematician Peter A. Schramm, actuary DAV (Diethardt), actuarial expert (www.pkv-gutachter.de). “The less people know how sausages and laws are made, the better they sleep.? (Otto Eduard […]
*by Johannes Fiala (Munich), attorney (www.fiala.de), and Peter A. Schramm (Diethardt), actuarial expert (www.pkv-gutachter.de) No company pension scheme This is not a way of implementing a company pension scheme. Rather, it is a matter of a “gross saving” by the employee, whereby an “incident” can occur at any time, which then triggers a payment as […]
von Johannes Fiala is a lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.) and banker. Contact and more information at [2] www.fiala.de. Dipl.-Math. Peter A. Schramm is actuary DAV (Diethardt) and actuarial expert. Contact and further information at www.pkv-gutachter.de Employers and their associations are not yet sufficiently aware that […]
*by Johannes Fiala (Munich), Attorney at Law (www.fiala.de), and Peter A. Schramm (Diethardt), Actuarial Expert (www.pkv-gutachter.de). Why fee-based consulting in occupational pension schemes? In occupational pension schemes, including e.g. the working time account (ZWK), the employer is subject to numerous possibilities of liability. These include, for example, the “Zillmerungshaf-tung”, the “Ausfallhaftung” as well as the […]
? Mr. Fiala, in a recent interview in Portfolio international you stated that a broker’s liability cannot be ruled out when using ratings. The background to this was what happened in connection with the Scope rating agency and the valuation of real estate funds. Can you first of all briefly describe what exactly happened there? For […]
*by Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer (Univ. of Cooperative Education), Banker (www.fiala.de ) and Dipl.-Math. Peter A. Schramm, Actuary DAV (Diethardt), Actuarial Expert (www.pkv-gutachter.de ) “Smile and be happy, it could be worse!” And I laughed and was glad – […]
*by Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm, actuary DAV (Diethardt), actuarial expert (www.pkv-gutachter.de) For initiators and distributors it is of crucial importance that all necessary permits are available ? including audited prospectuses. However, there are always initiators who […]
*by Peter Schramm (www.pkv-gutachter.de) and Johannes Fiala www.fiala.de) Until 1994, guaranteed surrender values were paid out in German life insurance in the event of cancellation, which were calculated from the actuarial reserve according to the business plan less cancellation deductions. Fair values instead of guaranteed surrender values With the deregulation of 1994, the guaranteed surrender […]
by Peter Schramm (www.pkv-gutachter.de) and Johannes Fiala (www.fiala.de) Until 1994, guaranteed surrender values were paid out in German life insurance in the event of cancellation, which were calculated from the actuarial reserve according to the business plan less cancellation deductions. Fair values instead of guaranteed surrender values With the deregulation of 1994, the guaranteed surrender […]
