– OLG Naumburg: Consultants are liable for losses and incorrect advice – Insolvency administrator draws company and private pension provision completely an investment broker and insurance brokers are happy to advertise company and private pension provision for entrepreneurs as “seizure-proof and insolvency-proof”. However, this is not the case, as a recent ruling by the […]
Legal restriction to the surrender value in the event of revocation of life insurance policies is contrary to EU law
– Current ECJ ruling opens up reversal with perpetual cancellation right also for new life insurance policies since 2008 – The bang of the European Court of Justice (ECJ) The European Court of Justice ruled (ruling of 19 December 2019, ref. C355/18, C-357/18, C-479/18) that a provision in insurance contract law according to which […]
When revocation and/or amendment of a subscription right can fail
The Federal Court of Justice (BGH, ruling of 25.09.2019, ref. IV ZR 99/18) had to deal with the life insurance of a policyholder (VN) who had fallen into a coma in 1993 after an accident. The wife, who was divorced in 1994, was entitled to withdraw her claim. The father of the UN informed the […]
How direct insurance policies can be seized by creditors and insolvency administrators
The Federal Court of Justice (BGH, ruling of 24.06.2015, file no. IV ZR 411/13) has already decided that the direct insurance policy of a shareholder-managing director can be seized despite an irrevocable subscription right with reservation of revocation until the so-called vesting with the GmbH, even in the event of his termination due to insolvency. […]
No speculation with death by transfer of the life insurance
The Federal Supreme Court (BGH, ruling of 27 June 2018, file no. IV ZR 222/16) decided that to insure the life of another (the insured person, CP), the consent of this CP is also required at a later date. This applies not only to the original conclusion of the contract, but also if only the […]