Insurer Allianz compensates all victims of usury policy | Money

This is reported by the Consumers’ Association. It concerns unit-linked insurance policies that have been sold by various insurers since 1993. Good returns were predicted for these so-called usury policies, while in practice customers had to spend a large part of those revenues on high costs.

The Consumers’ Association says it is happy that the case with Allianz has now been definitively closed. “The usury policy file is incredibly tough and has dragged on for years, but slowly but surely consumers are increasingly getting what they are entitled to,” said Sandra Molenaar, director of the Consumers’ Association. “Sometimes through a favorable decision from the Financial Services Complaints Institute, sometimes through a scheme like this.”

Molenaar believes it is time for other insurers that sold usury policies, such as Nationale-Nederlanden and ASR, to take responsibility and also start compensating their customers.

Citizens’ initiative

Since the sale of these usury policies, seven million unit-linked insurance policies with a total value of €100 billion have been sold in our country. According to the Consumers’ Association, insurers are still unclear about the costs they charge for endowment insurance.

Together with Consumentenclaim, the Vereniging Woekerpolis.nl and the Woekerpolisprocess Foundation, the Consumentenbond started a citizens’ initiative that was signed by 52,000 consumers, putting the subject on the agenda of the House of Representatives later this year. The clubs want insurers to be obliged to show all costs in a clear annual overview.

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