PZU fined for illegal contracts

15th January 2010

PZU are Poland's largest insurers

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Insurance giant PZU has been slapped with a hefty PLN 15 mln fine for violating consumer protection laws in its insurance policies.

The Office of Competition and Consumer Protection (UOKiK) said the insurer was being fined for including illegal provisions in its auto, property, travel and accident insurance policies. Thanks to these clauses, PZU was able to pay out lesser damages or even avoid making any payment on some claims.

One example cited was a provision that reduced payments for damages if the contract was dissolved before its termination date. The UOKiK ruled that damages could not be lowered due to events that take place after a payable incident occurs.

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