‘Usury Policy Affair’ reaches new phase – On March 29, 2016, the interest group ‘Wakkerpolis’ achieved a significant victory in a test case against insurer Nationale-Nederlanden (NN). The Dutch Financial Services Complaints Authority (KiFid) ordered the insurer to pay a heavy fine for so-called ‘Initial Costs’ and the ‘Effects of Leverage and Capital Erosion’. In the ruling, KiFid tightened standards concerning the information that an insurer should or should not have provided in relation to the sale of investment insurance policies. The judgment is a breakthrough in liability cases against insurers such as NN. In a few weeks’ time NN will be summoned by Wakkerpolis (consumer interest group) in a collective compensation procedure. As legal counsel, Wakkerpolis engaged a team of lawyers specialised in financial law, led by Adriaan de Gier of De Gier Business Finance Law. For the press report from KiFid see: KiFid press release concerning NN Initial Costs and Effects of Leverage & Capital Erosion.pdf