Jan 9, 2024 at 8:48 PM Update: 24 minutes ago
Insurer NN Group settles for approximately 300 million euros in the so-called extortionate policy affair. The insurer has entered into an agreement about this with four claim organizations and the Consumers’ Association. All legal proceedings against NN are now stopped.
In addition, NN sets aside 60 million euros for distressing cases and for customers who are not affiliated with the organizations and who have not previously received compensation. The agreement includes investment insurance policies from Nationale-Nederlanden, Delta Lloyd and ABN AMRO Levensverzekering.
According to the Consumers’ Association, the parties involved will further develop the practical implementation of the scheme in the coming months. Consumers who have registered with one of the interest groups will then receive a message about what the scheme means for them. The compensation per policyholder amounts to a minimum of 500 euros and can in some cases amount to more than 10,000 euros, according to the Consumers’ Association.
In November, insurer ASR also reached a settlement of hundreds of millions of euros to compensate customers with extortionate policies or people who once had such an investment insurance policy.
The extortionate policy affair has been worrying the financial world for years. In 2006 it came to light that many investment insurance policies had been charged far too high costs since the 1990s. Claims organizations ConsumerClaim, Woekerpolis.nl, Woekerpolisproces and Wakkerpolis have since tried to mobilize victims to obtain compensation from insurers.
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ASR closes a major multi-million deal on compensation for customers with extortionate policies
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Trading of NN shares halted after judge’s harsh ruling on extortionate policies
Image: ANP Photo
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2024-01-09 19:48:44
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