Insurer to face $3.5 billion lawsuit

Netherlands-based claim organization Wakkerpolis B.V. has filed a €3.2 billion ($3.5 billion) lawsuit against insurer NN Group N.V. for charging unjustified fees of about €5,500 per customer on investment insurance, NLTimes.nl reported citing ANP news agency. The collective corporate profiteering claim is being filed in cooperation with consumer protection organization Consumentenbond, on behalf of about 500,000 customers of NN Group.

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