Consumers complain about delayed payments – Bafin warns insurers

Frankfurt The financial regulator Bafin requires insurers to provide contractually agreed services quickly. Sometimes consumers have to wait a long time for payments, she writes in her in-house Bafin journal. This is annoying for customers – and often associated with financial disadvantages.

Even if the supervisors do not talk about specific providers, one case in particular attracted negative attention recently: At the life insurer Proxalto, payments to numerous customers were delayed as part of an IT migration. As early as last summer, many insured persons expressed their anger on the Internet and also to the Handelsblatt.

Although Proxalto is a much-discussed example in public, it is not an isolated case. The Bafin observes again and again that there are delays in the payment of benefits, the article continues. It is then decisive for them whether the defects are temporary or will last for a long time.