“Is an agent permanently employed by a brokerage firm a broker or an agent bonded (to the brokerage firm)? What needs to be considered with regard to pecuniary loss liability (VSH)?” A salaried broker, in his relationship to the brokerage firm, is at best an agent (of the broker) – but never a broker, because […]
What entrepreneurs can learn from this for their own liability insurance 7.5 mi. Euro sum insured – instead of the usual 100 million minimum cover The Love Parade disaster in Duisburg after a mass panic was insured at an astonishingly low level. The amount of cover provided by the organiser’s liability insurance is obviously […]
The Federal Financial Supervisory Authority (BaFin) celebrates a decision of the Administrative Court of Minden (decision of 17.12.2010, ref. 10 L 690/10) as a triumph – however, it is probably rather an admission of hopeless overstrain? Defrauded investors should not under any circumstances hope for financial supervision – it protects the existence of financial institutions, […]
Direct health insurers are cheap, but for brokers who arrange them, the deals are full of pitfalls. However, not brokering direct insurers can be costly if brokers justify it with arguments that carry liability. To the point Brokers who do not offer direct insurance must point out the exclusion to the customer. Many […]
Because the market for private health insurance has become increasingly narrow, insurers are promoting poaching in other companies’ portfolios through training courses. The liability risk involved is downplayed. Few brokers are aware that the usual statutory minimum cover in VSH is often likely to be too low in view of the liability risk. The […]
Real estate insurance In the question of the right measure, however, he often finds himself in a dilemma between too much and too little. The following article offers tips for decisions that are coming up. Many buildings are poorly insured. Owners and managers repeatedly expose themselves to enormous liability risks here. We would like […]
In a ruling of 13 September 2007 (Case No. 8 U 29/07), the Higher Regional Court of Celle dealt with the advice given to an employee on the continuation modalities of an insurance policy taken out in the context of deferred compensation in the event of a change of employer, in particular a change of […]
The third part of the series again deals with easily recognizable software errors. In this case, it is not missing fields, but rather “unnecessary” existing fields that largely lead to misadvice. Many pension measures are state-subsidised in the qualifying phase – and taxed or contributed to on a deferred basis. It is therefore often the […]
– Wrong understanding creates error – wrong advice creates personal liability -. Risk and return Insurance customers and intermediaries like to think that sample calculations tell them something about what the insurer (most likely) expects as the outcome of an investment in an insurance contract. That’s why prospective insurance customers also like to ask […]
This is the first post in a series looking at advice failures in retirement planning. Users of consulting software can thus check their software for these errors. Last but not least, the legal consequences are shown. The series begins with a very common mistake – namely, the failure to distinguish between old and new widow/widower […]
