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Supreme Court answers questions Court of Appeal The Hague on information obligations for unit-linked policies

Today's judgment has no direct consequences for customers with a unit-linked policy. The Court of Appeal The Hague will resume the collective proceedings between the Vereniging and Nationale-Nederlanden

Today’s judgment has no direct consequences for customers with a unit-linked policy. The Court of Appeal The Hague will resume the collective proceedings between the Vereniging and Nationale-Nederlanden

Today, the Dutch Supreme Court answered questions of law submitted to it by the Court of Appeal in The Hague. The Supreme Court’s answers relate to collective proceedings initiated by the Vereniging against Nationale-Nederlanden concerning unit-linked policies.

In these proceedings, the Court of Appeal submitted preliminary questions to the Supreme Court to obtain clarity on the interpretation of certain principle questions of law that are relevant in disputes concerning unit-linked policies. The questions concern the relationship between the specific Dutch regulations applicable to insurers regarding the provision of (pre)contractual information, and Dutch civil law and the impact thereon by European law.

The Supreme Court primarily considers that Dutch civil law is applicable to the legal relationship between insurer and insured. It is up to lower courts to decide whether Dutch civil law entails obligations to provide information in addition to the obligations arising from specific regulations and, if so, which obligations. The Supreme Court holds that potential additional information obligations must satisfy the criteria formulated by the Court of Justice of the European Union in the NN/Van Leeuwen judgment.

The Supreme Court finds that the courts have to judge whether these information obligations 1) pertain to information that is clear and accurate, 2) are necessary for a proper understanding of the essential characteristics of the unit-linked policy, and 3) enable the insurer to identify with sufficient foreseeability the additional information that must be provided and that the insured may expect.

Today’s judgment has no direct consequences for customers with a unit-linked policy. The Court of Appeal in The Hague will resume the collective proceedings between the Vereniging and Nationale-Nederlanden.

The Supreme Court's ruling does not change Nationale-Nederlanden's previously published views and conclusions regarding unit-linked policies.

Nationale-Nederlanden will continue to reach out to customers to encourage them to carefully assess their unit-linked policy. Customers with questions about their unit-linked policy can visit, where they will find answers to the most frequently asked questions and options for customers with a unit-linked policy.

  • NN Group is an international financial services company, active in 19 countries, with a strong presence in a number of European countries and Japan. With all its employees, the Group provides retirement services, pensions, insurance, investments and banking to approximately 18 million customers. NN Group includes Nationale-Nederlanden, NN, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA. NN Group is listed on Euronext Amsterdam (NN).

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