Bank staff’s bonus-fuelled double selling of home insurance
Royal Bank of Scotland has suspended six workers at a branch in Edinburgh, including the manager, over allegation they double-sold customers household insurance to win bonuses, including holidays, the Express reports.
The paper alleged that staff sold 90 customers both standard and elite home insurance products. They were also promised they would be entered into a prize draw, but they had no chance of winning as the entry deadline had passed.
Staff claimed double points towards a bonus scheme that awards cash prizes of £400 and holidays to the best performing branches.
The Express says its source claimed staff were under “intense pressure” to sell the products, which increased as the effects of the credit crunch took its toll on RBS.
An RBS spokesperson told Insurance Times this morning: "RBS takes such allegations extremely seriously and always investigates them thoroughly. We have rigorous processes in place, which we regularly review, to ensure that all staff carry out their duties in full compliance with our policies and procedures. If there is ever any evidence of wrongdoing we immediately take appropriate action. It would be entirely inappropriate to make any comment at this time on this matter as it is still the subject of an ongoing investigation."
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