Garantieversprechen für Gebrauchsgüter als erlaubnispflichtige Versicherungsgeschäfte aus deutscher und europäischer Sicht

The article deals with the conditions under which the provider of guarantees for consumer goods operates an insurance business and therefore needs a permit. This question is of fundamental academic importance as it concerns the limits of insurance. Secondly, it is of practical relevance, as is reflected in court decisions in Germany as well as in other European countries. A comparative analysis supports the following rules: An extension of the statutory warranty offered by the seller or manufacturer is normally to be regarded as ancillary to the purchase agreement, which does not lead to regulatory licensing requirements. By contrast, if a third party offers a guarantee this is to be considered as an insurance business and therefore requires a permit.     

Die Umsetzung der europäischen Compliance-Vorgaben im österreichischen und deutschen VAG 2016

As member states of the European Union both Austria and Germany adopted the provisions of the Solvency II Directive in their national supervisory law. So this European Directive leads to a more convergent, consistent level of regulation and supervision a comparing view on the implementation of the Directive in both countries, Austria and Germany, really seems interesting. This paper compares the Austrian and German Supervisory Law in special respect to the current compliance-regulation in this countries.     

EIOPA – Eine Überschreitung des europäischen Rechtsrahmens und die sich daraus ergebenden praktischen Konsequenzen

The EIOPA (European Insurance and Occupational Pension Authority) is a regulatory EU-body, which was founded on the 1st of January, 2011. The EIOPA was established as a result of the financial crisis that took place in 2007/2008, and it is part of a newly created EU-financial system. This essay deals with questions around the legality of the EIOPA, and looks into its legal basis and the scope of its authorities, which are limited by the case law of the European Court of Justice, as well as European and constitutional principles. When considering these aspects, the regulation, on which the EIOPA is based, seems to be partly incorrect. This essay therefore deals with the legal consequences of such faultiness.     

Die neuen dänischen sterblichkeitstafeln für minderwertige leben

Versicherung minderwertiger Leben hat in Dänemark lange stattgefunden. Erstens haben die Lebensversicherungs gesellschaften in Dänemark — wie überall - Personen aufgenommen, deren Gesundheitszustand eine geringere als die normale war. Die hierbei gewöhnlich verwendete Methode bestand darin, dass man der betreffenden Person ein höheres Alter als das wirkliche beilegte. Wenn der Gesundheitszustand eine so schlechte war, dass die Alterserhöhnng mehr als 10 Jahre betragen musste, wenn die Prämie als hinreichend geschätzt werden konnte, wurde der Antrag gewöhnlich abgelehnt. Es war im allgemeinen die Regel, dass die Alterserhöhung auch bei der Berechnung der Prämienreserve und des Rückkaufswerts in Rechnung gebracht wurde. Karenzzeit entweder gewissen Todesursachen gegenüber oder allgemeine Karenz kam natürlich auch vor. Während also die meisten Gesellschaften die schlechteren Risiken ganz ablehnten, konnte jede Person bei der Gesellschaft ?Danmark? cin der sogenannten ?Unterabteilung? eine Versicherung bekommen. Die Prämien wurden nach einer sehr strengen Sterblichkeitstafel ausgerechnet, und für alle Versicherungen galt eine 5- jährige Karenz.     

Ein konvergenzkriterium für erneuerungszahlen

Abstract

Inhalt des bekannten Erneuerungsproblems ist es, bei einer Gesamtheit (Versichertenbestand, Viehherde, Warenlager, etc.) deren Elemente infolge gewisser Ursachen (Todesfall, Unbrauchbar-oder Verkauft werden, etc.) aus der Gesamtheit ausscheiden können, den Neuzugang zu untersuchen, der dazu nötig ist, die Gesamtheit auf konstantem Umfang zu erhalten. Bei diskontinuierlich sich erneuernden Gesamtheiten, wie sie in dieser Note betrachtet werden sollen, vollziehen sich die Wechsel im Bestand immer am Ende einer festen Zeiteinheit (Jahr, Tag, etc.). Das zufallsartige Ausscheiden der Elemente aus der Gesamtheit sei geregelt durch ein als bekannt vorausgesetztes Abbaugesctz. Darunter versteht man ein System von K - 1 Zahlen (1) P ₀, P ₁, P ₂, . . PK;wo P _v die Wahrscheinlichkeit für ein der Gesamtheit neu angegliedertes Element ist, ihr mindestens v Zeiteinheiten anzugehören.Diese Wahrscheinlichkeiten können durch überwachungeiner geschlossenen Elementengesamtheit statistisch gewonnen werden. Das Abbrechen des Abbaugesetzes bedeutet, dass kein Element mehr als K Zeiteinheiten der Gesamtheit angehört.     

Geologisches Risikomanagement für Versicherungen

The application of Geoinformationsystems under geological, hydrological and hydrogeological aspects for the risk management is a further development of the geographical underwriting of the insurance industry. The knowledge of the geology, hydrology and hydrogeology is fundamental for the understanding and spatial analysis of insured objects before and during loss events for example with contaminations of the aquifer. Furthermore possible loss scenarios could be prevented or minimized if the subsurface geology and hydrogeology are already known and integrated in the initial insurance appraisal. The modelling and classification of the geoscientific knowledge also enables the definition of Action Zones, which allow a better appraisal and assessment of the insurable objects. This leads to an optimized and transparent premium calculation for both, the insurance and the policyholder (Münchener Rück 2002). The visualization of the geoscientific subsurface information in Geoinformationsystems is simple and economical feasible, it is quick to analyze and combinable with additional information and gives important insights in the subsurface structures. The paper describes a workflow how such Action Zones could be assessed and the additional information for the premium is generated.     

Prognose des Abwicklungsergebnisses mittels Chain-Ladder-Verfahren für abhängige Run-Off-Portfolios

In the present paper we analyse how the estimators from Merz u. Wüthrich (2007) could be generalised to the case of N correlated run-off triangles. The simultaneous view on N correlated subportfolios is motivated by the fact, that in practice a run-off portfolio often has to be divided in subportfolios, so that the homogeneity assumption of the claims reserving method on each subportfolio is satisfied. We derive an explicit formula for the process-variance, the estimation-error and the prediction error made by the forecast for the claims development result with the Chain-Ladder method. We illustrate the results by an example.     

Industrieversicherung in der Türkei im Vergleich zu Deutschland

In conjunction with the rapidly advancing industrialization of Turkey, the segment of industrial insurance has also steadily gained in importance. People seeking cover for industrial risks situated in Turkey, however, face several rather significant constrictions. Whilst some of those may be circumvented at least partially, the Turkish situation raises the question of the need for legislative reform (possibly inspired by German law) in this area. Such would foster the development of more innovative and adequate insurance products by the Turkish insurance market.     

Verfassungsrechtliche Vorgaben für Sozialversicherungsreformen

German social insurance is to adapt to societal changes and requires reforms if it is not to fail in its protective purpose. The Constitution sets framework conditions for such reforms: It allows for further development and changes in existing structures, yet it also postulates consistency, protects acquired rights and urges existing social security systems to be effective. The legislator may not completely dispense with risk protection. At the same time, the Constitution grants the legislator sufficient scope for action, since he may lay down the type and level of security. However, the Constitution also ensures a certain continuity through the protection of confidence, as drastic restructuring measures may entail great costs with respect to the transition of protected rights.     

Zur Variationsrechnung für die Verteilungsfunktionen

Abstract

Die Variationsrechnung hat zur Aufgabe, unter den Funktionen F(x), die einer gewissen Klasse C angehören, diejenige zu finden, welche ein Funktional J[F] zum Maximum oder Minimum macht. In der allgemeinen Variationsrechnung enthält die Definition der Klasse C gewöhnlich nur derartige Bedingungen, die erforderlich sind, urn die Existenz von J[F] zu sichern, z. B. Kontinuität oder Differentierbarkeit bis zu einer gewissen Ordnung, und ausserdem eventuell gewisse “Nebenbedingungen” von der Form J_v [F] = c_v (v = 0, 1, ..., n).     

Aufsichtsrechtliche Rahmenbedingungen für die Tätigkeit von EU-Versicherern in der Türkei

In recent years the Turkish insurance market has exerted a strong appeal, especially for insurers seated in the EU, in view of its exponential growth rates and its dormant growth potential. EU insurers are, however, subject to more stringent insurance supervisory requirements when entering this insurance market, external to the EU, than when expending into other European insurance markets.     

Katastrophenanleihen als Risikotransfer-Instrument für Industrieunternehmen

All over the world an increase in natural catastrophes and resulting damages can be observed for entire economies as well as for individual industrial enterprises. This trend leads to extraordinary expensive traditional natural catastrophe insurance or even a lack of insurance capacities. Due to the increased threat resulting from natural catastrophes and the inefficiencies of traditional insurance solutions, it will be analyzed in the following whether catastrophe bonds (cat bonds), as an alternative risk transfer instrument, should play a role in the risk management portfolio of industrial companies. It will be discussed whether catastrophe bonds are possible risk transfer instruments for industrial companies and whether certain basic prerequisites for a confirmation of the suitability are recognizable. In a further step, the design possibilities for cat bonds will be presented and the most suitable design alternatives for industrial companies as issuers of cat bonds will be elaborated. In addition, a critical comparison between the usage of traditional insurance solutions and cat bonds by industrial companies in order to protect themselves against natural catastrophes will be conducted. The result is a first orientation and a general guideline for dealing with catastrophe bonds as part of the operational risk management for industrial companies.     

Pflichthaftpflichtversicherung für Hersteller von Medizinprodukten – überfällig oder überflüssig?

Given actual legislative initiatives in the German Bundestag the question arises as to whether in the interest of patient safety-compulsory liability insurance for producers of medical devices should be implemented. At present, these proposals for reform are incompatible with the constitutionally-guaranteed principles of professional freedom and freedom of contract. Furthermore, it is questionable whether compulsory liability insurance would in fact improve the situation of patients taking into consideration the insurer’s status and possible release from obligation. Should compulsory liability insurance pass constitutional review due to new factual findings in the future, a direct claim against the liability insurer is not advisable. A possible victim compensation fund is not to be financed by the producers or their liability insurers.     

Deckungsbegrenzungen in Pflichtversicherungen – Die Bedeutung des § 114 VVG 2008 für Verträge über Pflichthaftpflichtversicherungen

Numerous liability insurances are mandatory in order to ensure the indemnification of potential victims. These compulsory insurances are regulated by sections 113 et seqq. of the “Versicherungsvertragsgesetz” (German insurance contract law). The new section 114 aims at protecting the victims' financial interests by specifying the necessary scope of cover of compulsory insurances.However, the statutory interpretation of section 114 provides several difficulties: For example, it prescribes concrete amounts on the hand – and contains a vague blanket clause on the other hand. This study wants to disclose these difficulties, develop specific solutions and reveal the fundamental legal interests which lie behind section 114.     

Pay-As-You-Drive Angebote von Erstversicherern für Privatkunden

“Pay-as-you-drive” (PAYD) concepts for car liability insurances envisage that real driving behavior and situation data are captured and processed via car sensors and tracking systems in order to calculate case-specific insurance rates which better correspond to the risk profiles of policy holders (PH) than conventional tariffs. The present article provides an outline of PAYD insurance variants, of legal arrangements with particular relevance for PAYD offerings in Germany and of the international dissemination of PAYD concepts. It shows that although PAYD offerings of direct insurers (DI) for private customers are not barred by insurmountable technical or legal barriers, they so far have little practical relevance in Germany. Against this background expected PAYD impacts on revenues and costs of DI are discussed in detail in order to analyze the extent to which DIs’ cautious PAYD offering strategies may be qualified as economically reasonable. The investigation suggests that the profitability effects of PAYD insurances of DI targeted at private customers are far from being definitely and clearly positive. Thus, it is very unlikely that DI will make significant investments on their own in order to create a large German residential market for PAYD insurances. Rather such a market will not emerge without accompanying state interventions.     

Die niederländische Gesundheitsreform 2006 – Vorbild für eine weitere Reform des Krankenversicherungswesens in Deutschland?

The health sector of many European countries has been subject of a profound process of change for years. Since the federal elections of 2009 a discussion on the direction of the German health insurance system has emerged. In this context, German neighboring countries like Switzerland or the Netherlands are considered due to their changes in health policy for decades. This work deals with the effects of the recent Dutch health care reform. Due to the combination of the two elements “Bürgerversicherung” and “Kopfpauschale”, it serves as a possible model for further reform in the German health system since its introduction in 2006. Special attention was paid to the consolidation of statutory and private insurance in a general citizens insurance in the Netherlands “three-pillar model”. Because of the medium-term time horizon, financial impacts on state and private households and changes in competition between insured individuals, insurers and providers could be analysed. Especially, positive effects in terms of increasing competition and reducing the two-tier health care became apparent.