This article was last updated on April 28, 2023
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Insurance company CAK Dordrecht Fined for Providing Misleading Information
AFM imposes the fine on Promovendum’s parent company
Insurance company CAK Dordrecht, parent company of Promovendum and Besured, among others, has been fined for providing incorrect, unclear and misleading information to customers. For this reason, the company must pay 2.5 million euros to the Authority for the Financial Markets (AFM).
The fine was already handed out on November 21, 2022, but the AFM is only now publicizing it due to objection procedures. The reason for the fine was an accumulation of violations. The insurance company had been structurally violating the law for at least three years, according to the AFM.
Company withheld important information from customers
Information that CAK Dordrecht provided to customers was unclear, incorrect and misleading on important points. For example, insurance conditions were adjusted in such a way that it would be difficult for customers to find out, and car insurance premiums were raised sharply while communication was deliberately vague, so that as few customers as possible would cancel their insurance.
Manipulating reviews and poor communication
The insurance company also messed with customer reviews, for example by not being open about how the overall satisfaction rating was calculated or by making bad reviews less prominent. The company’s communication was also not good, according to the AFM. CAK Dordrecht only contacted us about important subjects by e-mail or via the site without having received explicit permission to do so.
No comment from Promovendum
A spokesperson for Promovendum did not want to respond to questions by telephone.
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