– Reasons for the implementation of a “Code of Conduct” imposed by the insurer -. In principle, the principle of freedom of contract also prevails in insurance mediation. If an insurance broker refuses to comply with certain specifications of the insurer and to undertake to do so in advance vis-à-vis the insurer, the insurer […]
– Advantages of the statutory health insurance (GKV), which insurance brokers conceal – A PKV insured gets his tumor on the neck, an optic nerve and half of his tongue removed. The subsequent proton therapy – costs up to more than 43 TEUR – may not be paid by the PKV. The employer’s […]
– What insurance customers have to consider in the event of a claim in order to avoid the statute of limitations – The Oldenburg Higher Regional Court (OLG) ruled in its judgment of 19.12.2013 (Ref. 1 U 67/13) that an insurer (VR) cannot invoke the statute of limitations after years in the case of […]
– When insurance brokers can receive fees in addition to brokerage – “Tine flies like an arrow. Fruits flies like a banana.” (Groucho Marx) For decades, insurance brokers have competed with business and tax advisors, legal counsel, and insurance consultants. In this context, comprehensive insurance advice as pure legal advice is (also) part of […]
What financial service providers need to pay attention to with regard to IBNR risk The impacts seem to be steadily approaching: More and more major losses are weighing on the claims statistics of financial services providers. The list ranges from K1-Fonds, Phoenix Kapital, to S&K, Infinus, as well as many other unnamed companies. As […]
What benefits the policyholder can expect from the insurer Passive insurance The aim of the insurance cover is to keep the policyholder free from liability obligations (BGH NJW 1967, 2203). This will also include claims for injunctive relief and removal pursuant to Section 1004 of the German Civil Code, for example in the case of […]
– Whereupon in particular financial plant mediators in accordance with § 34 f exp. 1 GewO and intermediaries of financial services according to § 34 c GewO, as well as insurance brokers have to pay attention to – Currently, thousands and thousands of advisors and brokers are receiving notices from their asset protection liability […]
Why medium-sized businesses and industry are increasingly suing insurance brokers? The responsibility of insurance brokers is considerable. As representatives of the client’s interests, brokers have an abundance of contractual and legal obligations, which they often cannot or do not want to take care of due to time constraints, especially if they promise unnecessarily much […]
A commentary and recommendations for action by attorney Dr. Johannes Fiala. “No, no, dear investor: the money is not gone – it is just that other people have it today”. For intermediaries and advisors, there is not only the risk of losing portfolios and lapse reserves. 15% commission and more: Federal Court of Justice (BGH) forces […]
The IRR yield is based on an unrealistic calculation method. Bank advisors who do not inform their clients about this risk not only claims for damages. In the worst case, a reversal may occur. A guest article by Dr. Johannes Fiala and Edmund Ranosch. In a recent judgement of the LG Munich II (Az.: 9B […]
