The FSA has slapped a £455,000 fine on Loans.co.uk (LCUK) for failing to treat its customers fairly when selling payment protection insurance (PPI).
It comes as the FSA steps up its campaign to crack down on PPI mis-selling practices.
The regulator said it had uncovered inappropriate systems and controls which would minimise the risk of unsuitable sales at the company.
The company, which sold PPI over the telephone, had failed to gather and record information to show that the policy recommendations it made were suitable.
The FSA also discovered that the company failed to give enough information at the point of recommendation to allow customers to make an informed decision about the PPI policy being offered.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
