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 ( and Hermann Siebenhaar, insurance broker (Neutraubling), court-appointed expert, lecturer (Univ. […]

Quo vadis brokerage profession: negligent self-inflicted lifetime broker liability?

In view of more than 20,000 liability suits per year, intermediary liability is a special topic, especially for insurance brokers. The insurance brokers, meanwhile, have probably (consciously?) possibly brought on themselves an enormous increase in liability in their profession and a reduction in income. The beginning of the end began in 1988.   In the […]

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 ( 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 […]

EU Insurance Mediation Directive: Will insurance intermediaries and financial service providers lose their licences?

*by Dr. Johannes Fiala, lawyer (Munich), mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), lecturer in civil law and insurance law (Univ. of Cooperative Education), banker ( and Ralf W. Barth, managing director of Ralf W. Barth GmbH and pecuniary loss liability broker (, as well as board member […]

Federal Supreme Court (BGH): Reversal of open-ended investment funds with hidden commissions ! Can investors now always simply part with bad fund investments?

It’s not enough to have a chance, you have to take it ! (Michael Douglas) The Federal High Court has created by the current judgement of 19.12.2006 (Az. XI ZR 56/05) for investors a “new” possibility of giving bad Investments back to loads of credit institutes and Finanzvertrieben. The core of the case is a […]

On the brutal pedagogy of brokerage contracts, maximum liability sums and VSH reinsurance

(expert-network) Mr. Fiala, brokerage contracts will be from pools, working groups, Associations and distributors as a service offered. From your point of view. any abnormalities? (Johannes Fiala) I noticed, that numerous sample contracts contradict each other in substance. Spotlight Research shows that any text samples from form books were written off. Always clauses are to […]

Beware of false advisers

As of 22 May 2007, insurance intermediaries subject to licensing must, among other things, possess a VSH. For months, a price war has been raging in order to win the loyalty of as many intermediaries as possible – and they obviously have more plans for their addresses later on. The offers of the pecuniary damage […]