December 7, 2020 – The VKI proceedings against Nuremberg Austria regarding late resignations recently began. Now the two sides have agreed on a settlement – despite still different legal views. The claims are partially reimbursed.
About one and a half months ago, the proceedings began at the Salzburg Regional Court Association for consumer information (VKI) against the Nürnberger Versicherung AG Austria had strained (VersicherungsJournal October 21, 2020). The VKI had already brought the lawsuit in 2019 (VersicherungsJournal 23.10.2019).
The proceedings concerned the perpetual right of withdrawal, the accusation is of missing or incorrect information about the right of withdrawal. The VKI put the total value in dispute including interest at around 2.2 million euros.
In the class action he represented 181 victims who withdrew from their life insurance before January 1, 2019 Nürnberger Versicherung AG Austria had declared.
Comparison solution after the start of the process
As announced on Friday in a broadcast by VKI and Nürnberger, the two sides have now reached an agreement.
Nothing has changed in terms of the different points of view: The VKI is still of the opinion that the late withdrawal of the affected customers was permissible and that the consumers essentially have to repay the premiums including interest. The Nürnberger on the other hand is still of the opinion that the claims are unfounded.
But: “Despite these different legal opinions regarding the inaccuracy of the cancellation instructions, a comparative solution in the interests of the customers could now be achieved after the process started before the LG Salzburg.”
Part of the claims will be reimbursed
After deducting the costs associated with the procedure and the quota for the litigation cost financier, “those affected receive a part of the premium payments made”. Further details were not published.
“This settlement solution avoids a lengthy and costly procedure and provides a prompt solution for those affected,” said Thomas Hirmke, Head of Legal at VKI, and Anton Steinbrecher, Head of Legal at Nuremberg Austria in a joint statement.
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