A heavy defeat the British insurer clerical medical before the Federal Supreme Court had to accept success for CMI investors before the Federal Supreme Court. In several cases, pilot character to whom, the BGH decided yesterday in favor of degraded pension model investors. Further compensation possible defeat the British insurer clerical medical yesterday before the German Federal Supreme Court suffered. In several cases, pilot character to whom who chose insurance law competent IV. civil Senate of the Federal Supreme Court yesterday in favor of degraded “pension model”-investors. The procedure involved the so-called “Europlan”, where as also in the individual pension, safety compact pensions, also snow pension called and other “retirement models” CMI-“Wealthmaster Noble” insurance policies were used.

In contrast to the snow pension regular withdrawals from the insurance contract are euro plan and individual pension, whose handling was a subject of the Federal Supreme Court decisions. The German Federal Supreme Court first noted that it is contrary to the represented by clerical medical opinion on the “Wealthmaster-noble” policies not insurance is the insurance law to be applied. Rather, it is “first and foremost an investment business”. As a result, more stringent disclosure access for clerical medical. The British insurer must be attributed to hence the behavior of its independent brokers themselves. This often gave an as applicable, to positive picture of the expected yield. Model calculations were handed over in the claimants based on a forecast of yield of 8.5%, while CMI has regarded itself only a return of 6% as a realistic. Remarks this is not sufficiently clearly identified made to model calculations, so the judge.

Clerical medical was also obliged to clarify the customer before conclusion of the contract in that it decides at its sole discretion how much the yield from policyholders will receive and how much flows in the reserves. Also that this reserve can also be used to To fulfil warranty claims from investors of other pools. In addition, the control to the “market price adjustment” is opaque in the policy conditions and therefore invalid according to the BGH. Payout plans clerical medical can rely according to the BGH decision on the fact, that the regular withdrawals have led to a consumption of the shares. Instead, the insurer must make the payments stipulated in the insurance policy. In our opinion, this applies not only for the so-called “pension models”, but also for normal policies in the single time assets were invested to get regular payouts. Investors, who have invested “Wealthmaster Noble” CMI policies of the type, should urgently legal advice and check, which claims they have against clerical medical.