W trzech sprawach ubezpieczeniowych KNF wygrywa przed NSA

The Polish Financial Supervision Authority (KNF) has issued a press statement to announce that the Supreme Administrative Court (NSA) has ruled in favor of the KNF with respect to the cases of three insurance companies that were previously fined by the regulator for various infringements.
1. The first case concerns PZU SA which was fined in September 2019 a total of PLN 899,000 for delaying the payment of compensation and for non-compliance with information requirements. The PZU SA appealed to the Provincial Administrative Court in Warsaw (WSA) and the WSA subsequently agreed with the position of the company. As a consequence, KNF filed an appeal with the NSA which now confirmed the KNF’s decision.
2. The second case also involves PZU SA which was fined PLN 750,000 in March 2019 for similar violations. In this case, following an appeal of the company, the WSA upheld the KNF’s decision which is why the company filed a final appeal with the NSA. The NSA now also confirmed the KNF’s decision of March 12, 2019; the corresponding reasoning of the Supreme Administrative Court is outlined in the document.
3. The third case concerns Compensa Towarzystwo Ubezpieczeń SA Vienna Insurance Group („Towarzystwo“) which was ultimately fined PLN 600,000 by the KNF in June 2019 for violations under Art. 18 of the Act on Insurance Activity. Again, the company filed an appeal with the Provincial Administrative Court which agreed with the KNF’s decision. The final appeal before the NSA was now also rejected by the Court, confirming the KNF’s penalty decision.
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For more details on the judgements, please refer to the enclosed file.