The Polish Financial Supervision Authority (KNF) has imposed a financial penalty on four Polish insurance companies. Two of them were punished for reducing the level of MTPL premiums.
TUZ Towarzystwo Ubezpieczeń Wzajemnych and Compensa Towarzystwo Ubezpieczeń S.A. Vienna Insurance Group were punished for estimating premiums on a level which do not ensure the performance of the insurance contractual obligations and coverage costs of insurance companies’ activity in the car insurance and MTPL sectors. TUZ has to pay PLN 260,000 and Compensa PLN 600,000.
