Customer Service
In December 2007 Norwich Union was fined £1.26m by the Financial Services Authority (FSA) after customers with life assurance policies were put at a small risk of fraud. The FSA said the company had failed to deal with the issue properly even when it had been alerted to the problem.
After discovering an overcharging error that dated back to 2001, Norwich Union agreed to compensate their clients with a cheque for £300 each, due to charges that exceeded the 1% cap imposed by the government. The final amount of compensation is expected to exceed £11 million.
Read more about this topic: Norwich Union
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