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Swinton Insurance fined £7.4m for mis-selling
One of the UK's largest insurance companies, Swinton, has been fined £7.38m for mis-selling policies. The regulator, the Financial Conduct Authority (FCA), accused the company of an "aggressive sales strategy" and of failing to treat its customers fairly. It said the company had "prioritised profit". Swinton Insurance issued an apology. It said it had changed its practices, and had set aside a total of £11.2m to compensate its customers. The fine, one of the largest of its kind, relates to policies that were sold over the telephone. The fine, one of the largest of its kind, relates to policies that were sold over the telephone. Financial Conduct Authority Between April 2010 and April 2012, staff attempted to sell so-called "add-ons", in the form of personal accident, home emergency and motor breakdown policies.....Read more hereYou must be logged in to post a comment.
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