Findel owned Express Gifts has agreed a compensation package for over 300,000 customers who were sold insurance which offered “little or no value”. The FCA’s Jonathan Davidson commented “It is good news for consumers that Express Gifts has reached an agreement with us that this insurance was of low value to customers. We expect firms to identify where insurance products of little or no value have been sold to customers and take appropriate action.” The sum which Findel will refund is understood to be around £12.5 million.
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