On 12 March 2019 the 10th Supervision Financial Authority meeting was held. The financial watchdog made a decision to decrease the financial sanction imposed on PZU.
On 4 December 2018 during the 415th Financial Supervision Authority meeting, the institution imposed a financial penalty on PZU. The insurer had to pay PLN 0.9m. The sanction was imposed for delays in awards and payment of compensation and failure to fulfil reporting obligations in the years 2013-2015.
During the last meeting KNF examined PZU’s case again. The Authority decided to decrease the fine by PLN 150k to PLN 750k. KNF’s decision was supported by the fact that PZU had implemented the required procedures and remedial measures in their claims settlement process.
