UK's FCA finds millions of drivers may be owed money due to insurers underpaying on claims.
The UK's Financial Conduct Authority (FCA) has discovered that millions of drivers may be owed money from insurers who underpaid on claims. A review found that some car insurance firms offered payouts less than the value of written-off or stolen vehicles. The FCA has warned insurers against undervaluing cars or other insured items when settling claims and is engaging with firms included in its review to ensure improvements.
March 27, 2024
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