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The FSA fines AIG subsidary £640 000 for call centre failings

The Financial Services Authority has fined Unat Direct Insurance Management £640 000 for failings relating to a lack of effective control and oversight over its appointment of call centres.

Unat, an indirect wholly-owned subsidiary of American International Group, used nine call centres to sell general insurance products, mainly personal accident insurance policies, underwritten by

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Storm damage claims test insurers’ settlement choices

A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

How should success of FCA’s response to Which be judged?

The effectiveness of the Financial Conduct Authority’s regulatory action in response to Which’s super-complaint about home and travel insurance is reflected in smoother claims handling, not in the number of reviews or fines, according to Claire Massey, founder of Claim Guardians.

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