European court is not involved in profiteering affair – NU.nl

That makes the European Court of Justice, the highest judicial institution of the European Union on Wednesday.

The Court gave judgment in a case between a Dutch man who says Nationale-Nederlanden (NN) it has provided too little information when taking out the insurance Flexible Insured Investment, also known as profiteering.

The complainant finds the costs charged for the policy and the premiums for the risk of death for investment insurance to high

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Additional rules

NN has always adhere to the European keep, but rules the complainant believes that the Netherlands also apply additional rules for insurers, such as duty of care and the fairness and reasonableness and fairness. The Dutch court has asked the ECJ whether these “unwritten rules” of Dutch law also apply here.

The EU Court is now proposing that these rules also apply. With one caveat:. That the insurer must be able with a sufficient degree of predictability determine what additional information it must provide

Litigation

The parties can now litigate in the national court or insurers with the information woekerpolissen have fulfilled their information.

It was long awaited this ruling. In June last year gave a general lawyer of the European Court, the complainant equal to NN defaulted in providing information. The European Court is now far less than the non-binding advice given by the general attorney.

Comments

Lawyers connected to the

Foundation Woekerpolis Process argue that the statement not only policyholders of NN assists, but also those affected by all other insurers.

According to NN confirms the sentence should be imposed on top of European rules for the information of customers with life insurance, only additional standards which are clearly defined in national legislation.

The Financial Services Complaints Institute (Kifid) going to parties involved in ongoing complaint procedures linked insurance questions whether the judgment in their case gives rise to an alteration or addition to their point of view.

Kivid will the parties within two weeks of reports about the procedure to be followed and applicable deadlines.

Offset

According to the Consumers Association will award additional compensation for the victim customers of insurance companies a lot closer.

” The Court finds that Nationale-Nederlanden joined the sales of investment-linked insurance also ought to stick to general unwritten decency and legal principles and the Dutch courts and the complaints institute Kifid with its application in the proceedings may continue, “says Consumer Director Bart Combée

By: NU.nl/ ANP