Defeat in Court for Zurich in the Pension Factor Dispute
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Zurich must suffer a defeat in the dispute over pension factors in fund-linked Riester and pension insurance. The pension factor had been corrected downwards by the insurer. The Oberlandesgericht Köln declared the clause on which this amendment was based to be ineffective. read more
The life insurer Zurich Deutscher Herold was not allowed to reduce the pension factor in thousands of fund-linked Riester and pension insurances. This was decided by the Oberlandesgericht (OLG) Köln and thus justified the complaining consumer protectors. However, the dispute has not yet ended: The insurer wants to file a revision against the OLG ruling at the Federal Court of Justice (BGH), as a spokesman on VWtoday's question stated. The articl…
Zurich has suffered a new defeat in the dispute over pension factor clauses. OLG Köln has now ruled in favour of the complaining consumer defenders. However, they still cannot draw a conclusion under the case. The current ruling of the Oberlandesgericht Köln against Zurich is not yet final© iStock / todamo Zurich German Herold Lebensversicherung has the pension factor in thousands of contracts to [...]
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