Almost half a million customers across Europe now in line for compensation over sales made between 2011 and 2012
An insurance company has been fined more than £8m by the City regulator for mis-selling personal accident plans, which means over 480,000 householders could now be in line for compensation. Sales staff at Stonebridge International Insurance, part of insurance giant Aegon, targeted low and middle income customers without college degrees or professional qualifications by selling them expensivepersonal accident, accidental death and accidental cash plan insurance products, the Financial Conduct Authority said. The company would then use separate staff to contact the customers to ensure that they didn't cancel their policies.

Stonebridge bought customer details from business partners, including UK banks and credit card companies, catalogue sales firms and online retailers and used outsourced call centres to contact these people. The business partners would then receive a percentage of the monthly premiums. This mis-selling went on between April 2011 and December 2012. "Customers are entitled to expect firms to provide them with fair and balanced information to enable them to make the right choices about the product that is right for them," said Tracey McDermott, FCA director of enforcement and financial crime. "Stonebridge failed to do this and, when customers tried to cancel, put up barriers to prevent them from doing so. Firms must take responsibility for their outsourcing arrangements and ensure that they treat customers fairly.".....Read more here