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UK insurers to pay £200M in compensation to 270K motorists over unfair claim deductions.
Around 270,000 UK motorists are set to receive £200 million in compensation after the Financial Conduct Authority found some insurers short-changed customers on stolen or written-off vehicle claims.
Nearly 150,000 have already received £129 million, with the rest to follow.
The FCA discovered automatic deductions for assumed pre-existing damage disproportionately affected careful drivers.
Insurers have revised claims processes to meet the FCA’s Consumer Duty, and affected customers will be contacted directly.
Those dissatisfied with claim handling should first contact their insurer, then the Financial Ombudsman Service if needed.
Las aseguradoras del Reino Unido pagarán 200 millones de libras esterlinas en compensación a 270 mil automovilistas por deducciones injustas de siniestros.