Insurers threatened with legal action

The three big insurers Nationale Nederlanden, Fortis and Aegon all face legal action for misleading investors if they do not come up with a suitable compensation deal, two consumer lobby groups say in today’s AD.

Consumers are angry about the hidden costs attached to savings and insurance schemes which involve investing in stocks or unit trusts.
‘We are protesting at the way insurers kept the costs hidden. People were not told about them and have therefore not made the right decisions,’ said Anton Weenink of consumer finance lobby group VCG.
The VCG and sister organsation Woekerpolis Claim say they have had 3,500 complaints since their appeal last week.

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