NEWS ARCHIVE

24
Jun 2015
British Regulators Extend Claw
Top executives and managers at banks ope....
26
Mar 2015
Unwanted insurance policy add-
FCA says customers tricked into buying p....
19
Mar 2015
George Osborne tells UK banks
British Chancellor of the Exchequer Geor....
30
Dec 2014
Potential Mortgage rate rise w
Interest rate driven increases in mortga....

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News

26 Mar 2015 | 12:00 AM
Unwanted insurance policy add-ons banned by FCA

FCA says customers tricked into buying products they do not want or need..


Sneaky tactics used by airlines, banks and insurance companies to trick millions of customers into buying extra insurance could soon be outlawed.

The City watchdog has said it wants to ban companies from ‘opt out’ selling – where customers have to untick a box in the small print if they want to avoid buying an add-on insurance policy.

In a damning report, the Financial Conduct Authority said many customers are being tricked into buying products they do not want or need.