– On the design of insurance products in Europe – Brokers’ brokerage fees and agents’ commissions will fall as a result of the Life Insurance Reform Act (LVRG) – but at the same time there will be a shift in life insurance away from one-off to ongoing remuneration for agents. This is what Stuttgarter […]
Insurers are beating the drum for year-end business and advertising early unisex solutions. However, some intermediaries have a completely different problem. Particularly in the day-to-day business and in compensation, things are really sticking. portfolio international explains how the biggest pitfalls in everyday sales can be avoided. Shortly before Christmas, a more than 100-year-old practice of […]
Uncertainty in occupational pension provision: The ban on “hard zillmerisation” may also apply to occupational pension contracts The IV. Civil Senate of the Federal Court of Justice deals with inheritance and insurance contract law. On 25 July 2012, this senate, chaired by Barbara Mayen, made a decision that could have far-reaching consequences: In the ruling […]
Publisher: *by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Banker (www.fiala.de), ehem. Member of the examination board of the Munich Chamber of Industry and Commerce for the expert examination of financial advisors for financial services and financial services specialists, lecturer for civil law and […]
Billion-dollar liability for employers, intermediaries and providers – employers successfully sued over company pension scheme. A few days before the oral proceedings (Case No. 3 AZR 376/07) before the Federal Labour Court (Bundesarbeitsgericht – BAG), the employer sued apparently recognised the hopelessness of its appeal. The decision of the Munich Regional Labor Court (LAG) of […]
Link to this article: www.portfolio-international.de (www.portfolio-international.de, 09/18/2012)
New ruling of the European Court of Justice (ECJ) The ECJ also obliges employers in occupational pension schemes to use only so-called “unisex tariffs” from 21 December 2012, for example when using direct insurance. Up to now, female employees have received a lower occupational pension than male employees for the same contribution, because men have […]
Through the Occupational Pensions Act, the legislator has imposed an additional task on employers “as disinterested investment managers” of their employees and also holds them liable for this. The authors explain what employers, but also consultants involved in the human resources area of companies, must observe from 2012 in order to comply with the legislator’s […]
New billion-dollar surcharge for insureds due to incorrect implementation of BGH rulings Current judgement of the OLG Cologne: Insurers have to recalculate benefits in case of termination and premium exemption. A recent ruling by the Cologne Higher Regional Court dated 5 February 2010 (Case No. 20 U 80/08) establishes that life insurers have so far […]
Life insurers had looked to Erfurt like a rabbit to a snake. In mid-September, the Federal Labour Court (Bundesarbeitsgericht – BAG) had to decide whether deferred compensation agreements from before 2008 are invalid if zillmerised tariffs are used. Result: Gezillmermerte contracts do not automatically violate the principle of equal value (Ref.: 3 AZR […]
