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Erstgeschäft private + bAV geht ein; bAV

English translation: personal and company / business pension / retirement insurance coverage

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15:31 Nov 6, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: Erstgeschäft private + bAV geht ein; bAV
The entire section where these appear is:

"Makler wird produktiv (Erstgeschäft privat + bAV geht ein)

Individuell je Versicherungsvertrag muß zukünftig die Möglichkeit gegeben werden, in XXX-System Courtagemakler anzulegen und zu regeln, welcher Makler welchen Anteil (in %) der Abschluß- bzw. Folgecourtage erhält.

Die[s] wird insbesondere im bAV-Geschäft wichtig, wenn ABC Kosten (z.B. für Gutachten) entstehen, die wir nicht eingeprict haben und auch nicht extern in Rechnung stellen, sondern z.B. dem Makler nur 50% Abschlußcourtage zahlen wollen. Bisher ist dies nur durch Courtageverzicht möglich, wobei der Courtageteil dann dem Kunden in Form höherer Vertragsleistungen zugute kommt."

I don't think this is the same BAV, all capitals, which refers to the Bundesaufsichtsamt für das Versicherungswesen. Is it "betriebliche Altersversorgung" perhaps? And what the heck are they trying to say in parantheses?
Cami Townsend
English translation:personal and company / business pension / retirement insurance coverage
Explanation:
I think you are right with "privat und betriebliche Altersversorgung" because that is a big subject here in Germany now. They are cutting back on the state pension system and want the employees and employers to organize pension insurance themselves without state help (except that the state will give tax breaks and other incentives).

Your questions have concerned insurance agents and brokers who want to sell such group policies to companies to provide pension insurance for their employees as well as sell policies directly to employees for the same purpose.

I would translate "p & bAV" as "personal and company / business pension / retirement insurance coverage".

The part in parentheses means "first sale of personal and/or company / business pension / retirement insurance coverage".

- HTH - Dan
Selected response from:

Dan McCrosky
Local time: 21:46
Grading comment
Thanks, Dan.
4 KudoZ points were awarded for this answer

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Summary of answers provided
napersonal and company / business pension / retirement insurance coverageDan McCrosky


  

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11 hrs
personal and company / business pension / retirement insurance coverage


Explanation:
I think you are right with "privat und betriebliche Altersversorgung" because that is a big subject here in Germany now. They are cutting back on the state pension system and want the employees and employers to organize pension insurance themselves without state help (except that the state will give tax breaks and other incentives).

Your questions have concerned insurance agents and brokers who want to sell such group policies to companies to provide pension insurance for their employees as well as sell policies directly to employees for the same purpose.

I would translate "p & bAV" as "personal and company / business pension / retirement insurance coverage".

The part in parentheses means "first sale of personal and/or company / business pension / retirement insurance coverage".

- HTH - Dan


Dan McCrosky
Local time: 21:46
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
Grading comment
Thanks, Dan.
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