INSURANCE-BASED INVESTMENT PRODUCTS
Information and liability in comparison
Austria - Germany - Liechtenstein
The stable insurance industry is in turmoil. The life insurers suffer from their insurance-based investment products, which were sold as safe from the beginning of the 2000s and which were sold in a great variety of variations, including mainly unit-linked life insurance policies.
Insurance-based investment products represent a combination of insurance product and investment product. Against the background that insurance-based investment products are distributed by insurance companies through insurance intermediaries, the provision of information and advice in relation to the investment product often falls by the wayside.
This publication highlights which legal norms life insurers and insurance intermediaries need to pay particular attention to so that the policyholder is (properly) informed and that they are spared liability. Here, the judicature and teaching in Austria, Germany and Liechtenstein is examined and consulted. It analyses the individual duty to inform and their fundamentals of European law (MiFID II, SOLVENCY II, PRIIP, IDD).
Published by gmg-Verlag.