Insurance coverage Contract Act (Versicherungsvertragsgesetz, VVG) German Law Archive
Our international specialists advise insurers, reinsurers, intermediaries, brokers and other financial services firms on this sector on company insurance, listings, M&A, regulatory matters, restructuring and insolvency, litigation, capital markets and employment. The insurer shall bear all essential and cheap bills incurred by the insured after the incidence of the insured event in taking measures to prevent or mitigate loss or injury of the subject material of the insurance; the amount of such bills borne by the insurer shall be calculated individually from the indemnity for the loss of the subject material of the insurance and it shall not exceed the sum insured in the maximum.
A nasty faith motion could represent a number of potentialities; the insurer denies a declare that appears valid within the contract or policy, the insurer refuses to pay out for an unreasonable amount of time, the insurer lays the burden of proof on the insured – typically within the case where the claim is unprovable.
We information policyholders previous the frustration caused by insurance coverage corporations that delay, deny and underpay claims. With our financial stability and world expertise in insuring corporations in these fields, these policies be certain that you will get the perfect advice and tailored options to mitigate the dangers confronted by your organization.
Article eighty two Approval by the insurance supervision and control authority is required for any of the next adjustments to an insurance company: (1) change of the identify of the insurance company; (2) change within the amount of … Read More