FSA Fines - how ethical is your insurer?

Insurance broker Willis fined £7m by FSA
One of Britain's leading insurance brokers has been given a record £7m fine by the financial watchdog for failing to put in place robust anti-bribery systems, after an investigation unearthed suspicious payments in Russia and Egypt. September 2011 

Natwest – Unhelpful banking?

RBS and NatWest have been fined £2.8m by the FSA for failing to deal properly with customer complaints. According to the FSA, there was an "unacceptably high risk" that customers had been treated unfairly. Amongst the banks’ failures were delays, shoddy investigations and inadequate explanations. "We recognise the importance of complaint handling for our customers and are focused on addressing the root causes of complaints," said Brian Hartzer of RBS. 11th January 2011

Egg fined £721,000 and will compensate PPI customers

"Egg used inappropriate sales techniques to try to persuade customers to buy payment protection insurance on their credit card even when they asserted they did not want the cover." 10th December 2008 [read more]

FSA fines Hastings £735,000 for not treating customers fairly

The Financial Services Authority (FSA) has fined Hastings Insurance Services Ltd (Hastings) £735,000 for failing to treat its customers fairly in relation to cancelling around 4,550 incorrectly priced car insurance policies. "It is clear from our investigation that Hastings put its own interests ahead of those of its customers." 28th July 2008 [read more]

Liverpool Victoria Banking Services to pay £840,000 fine plus compensation to PPI customers following FSA investigation

The Financial Services Authority (FSA) has fined Liverpool Victoria Banking Services Limited (LVBS) £840,000 for serious failings in the sale of single premium Payment Protection Insurance (PPI). 30th July 2008 [read more]
 

The Green Insurance Directory is a guide to finding cheaper green car insurance, eco-friendly car insurance, environmentally friendly home insurance, eco-friendly pet insurance and green breakdown cover. All material © The Green Insurance Directory unless otherwise stated. We are not responsible for the content of external sites.

  Site Map