FCA uncovers £200m of short-changing from motor insurers
More than 270,000 motorists are to receive a collective £200m in motor insurance compensation after the Financial Conduct Authority found some insurers had short-changed customers on stolen or written off vehicle claims.
The compensation is for historic claims that were underpaid, breaching rules on handling claims fairly. Of this, £129m has been paid to date to almost 150,000 customers.
The FCA carried out the work
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