During the period from 27 July to 25 September 2020 KNF conducted an inspection of PZU’s operations and assets in the claims handling area. On 7 January 2021, PZU received a recommendation to refrain from breaching the interests of parties entitled to indemnification under motor TPL insurance, consisting in applying in the calculation of the indemnification using the cost estimate method out-of-date, unreliable data on the man-hour rates in the car repair market that do not match the actual repair costs from the place of residence, seat or the injured party or the place of repair of the vehicle. On 19 February 2021, PZU informed KNF about implementing the recommendations and, on 19 March 2021 provided KNF, on its request, with additional documents and explanations pertaining to the implementation of the recommendation. On 19 April 2021, KNF summoned PZU to present additional documents and explanations, deciding that the evidence presented earlier had not allowed it to consider the recommendation satisfied. On 30 April 2021, PZU provided additional explanations and documents. KNF set the requirements and dates for providing the evidence of implementation. On 7 December 2021, PZU submitted a report on the implementation of the recommendation.
On 28 January 2022, KNF asked for additional clarification and documents, which were provided by PZU on 14 February 2022. On 25 March 2022, KNF submitted a letter stating that the evidence submitted by PZU was insufficient to conclude that the recommendation had been implemented. On 8 April 2022, PZU sent a response to KNF, supplementing the documentation on the implementation of the recommendation. Following KNF’s call of 10 June 2022, PZU provided additional clarification on 24 June 2022, and on 21 July 2022, a meeting was held between PZU and KNF representatives to discuss the process of implementing the recommendation. On 29 July, 30 September and 14 October 2022, PZU submitted additional documentation and explanations to KNF.
During the period from 11 January to 10 March 2022 KNF conducted an inspection of PZU’s operations and assets in the solvency capital requirement area. On 4 April 2022, PZU received the inspection report, to which it submitted objections, additional explanations and documents on 15 April 2022. On 8 June 2022, PZU received 2 recommendations after the inspection, which will be implemented starting with reports prepared as of 31 December 2022. On 6 February 2023, PZU reported that the recommendations had been implemented.