Current developments

The Federal High Court (BGH) explained the contractual agreements in the year 2001 as repurchase values of two insurers for ineffective. Reason was the transparency lacking of the general trading conditions (AGB), with which the repurchase values were agreed upon. Out of the AGB the insurants sufficient the unfavorableness could not from a notice have taken. Because of the similarity of the AGB used by the insurers this decision concerns a great many contracts of many insurers, who were locked between the reorganization of the contracts in the year 1994 (the end of the duty to obtain a permit of conditions of insurance by the supervisory authority) and the change due to the judgement in the year 2001. The replacement for ineffectively explained AGB, made by the insurers for the present Treaties after "§ 172 VVG, was likewise explained by the BGH 2005 for ineffective, whereby it concerned the procedure of the replacement, not around the new AGB. The BGH raised in principle no objections against the height of the repurchase values. Thus however the contracts concerned without effective agreement over the height of the repurchase values and the BGH are for these cases a default for the height made. This runs out about on the fact that the "half" disadvantage goes out of the notice debited to the insurer, which remains other half however with the insurant. Thus the BGH confirms in principle the principle of the repurchase value, although in the case of the absence of an effective agreement for this this something is to be moderated. To that extent still requirements for additional charge can make a set of insurants, who quit and after to repurchase value for ineffectively explained AGB received appropriate contracts before the judgement, valid against the insurer.

The Federal Constitutional Court expressed 2006 in a resolution for the nonacceptance of a constitutional complaint doubt to the principle of the repurchase value and discussed a reimbursement of the contributions. However this resolution did not take place in the context of a procedure, thus without hearing of experts or concerning, as it would be indicated with such complex topics.

The Federal Ministry of the law sketched a ministerial draft bill to 2006 for the reform of the insurance contract law. In this a initially increased minimum repurchase value is demanded, as the which do not lead to future achievements, may be set only over 5 years distributed with the computation of the repurchase value. To what extent this, which 2005 similar default could have forbidden earlier regulation in Norway during conversion to the VVG Europeanlegally existence, is still unclearly.

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• Amazon.com: Allianz and the German Insurance Business, 1933-1945 ...
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  The reference value is derived in a manner that is consistent with and serves ... The repurchase price equals the sum of the purchase price and the price ...


• MINDARK | PE
  Objects with a set lifespan have a repurchase value which falls in relation to wear. Unique objects can have a market value, which is fixed via auctions, ...