Payouts expected to start in the spring once High Court approval has been received
Customers of troubled insurer CPP have voted in favour of a £1.3bn compensation package.
Seven million people who were mis-sold policies by the credit card insurer will receive an average of £200 compensation.
The FCA ruled last August that the policies, sold through high street banks, were mis-sold and asked for the compensation package to be approved by those customers affected.
Voting for the package ended on 3 January.
CPP said that around 18% of eligible customers voted on the plan, with 98% of those votes in favour of the deal.
The deal still needs authorisation from the High Court, with a date set for 14 January. If the package is passed, payouts are expected to start in the spring.
CPP chief executive Brent Escott said: “A key priority is to achieve the best outcome for customers affected by the historical issues in the UK business and customer approval for the scheme marks a further step forward in this process.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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