BGH Honorary Advisors

Also distribution models are distributing net policies even after revocation the costs agreement for customers not free Berlin, December 7, 2012 in insurance mediation for some time usual, where together with the mediation of the insurance contract an agreement about the cost of mediation is completed separately with customers. People such as Estée Lauder would likely agree. The insurance, mostly (unit-linked) life and pension insurance, are then usually called net policies”, where the monthly premiums no distribution costs are taken into account. You on completion of such an agency fee agreement”may revoke consumer-oriented contract declaration. “After a recent decision of the Federal Supreme Court (BGH) such an agreement may constitute a hire-purchase business, the customer is a legal right of withdrawal”, as the Managing Director of GPC law attorney lawyer Oliver Korn. Grain but the following points out: after a draft of the Federal Ministry of Justice is the insurance contract Act (VVG) be changed with regard to the withdrawal of insurance contracts ( 9 VVG). Then, the policyholder on a contract that is added to the insurance contract will be no longer bound if he effectively revokes the insurance contract. Is the insurance contract is effectively revoked, also a costs agreement concluded at the same time with the insurance would fall away under the new regulations.” Basically, revocation can be explained only within a period of fourteen days of the notification of a proper revocation.

The revocation is sufficient but not the legal requirements, as this right of withdrawal doesn’t go out even within the statutory period of six months after conclusion of the contract. “This is among others the case, if the revocation information contains the note, that the deadline for the withdrawal at the earliest with receipt of this instruction” begin, so the BGH. Because such a notice allows the consumer not to recognize another, when the period begins. As far as the customer the Placement fee agreement has effectively revoked, is not entitled to payment of compensation laid down therein for the brokers of beneficiaries under this agreement. “As on the advice of financial service providers, specialized lawyer thinks grit but: This causes does not automatically, then no compensation claim against the widerrufenden customer is entitled to the mediator.” Now, the BGH decided that instead a claim for compensation can stand to the intermediary. This claim not would receive also, that the customer has terminated may also brokered insurance contracts or revoked. Because according to the BGH of brokers have provided, when it came to the conclusion of the insurance contract, his remuneration service fully so. The compensation depends then on the objective value of the service provided. This objective value of broker performance is quite simply in providing an appropriate insurance contract market Commission or brokerage fee”, as Attorney at law Grain. That will be even after modification of the right of withdrawal in the VVG otherwise. Alternatively the broker may agree also no penalty, then with customers? “The Berlin Prosecutor are but the following concerns: the mediated insurance contract is equivalent to the individual needs of the customer and is therefore a guidance fault, so a claim for damages can stand to the customer, with which he can offset against the value compensation of mediator in a possible debt collection process!