Sounds paltry refund. Can one complain to financial ombudsman ?
From the indo article, they are refunding the error plus 5% of the premium price by way of compensation.On what basis? A refund is a refund.
From the indo article, they are refunding the error plus 5% of the premium price by way of compensation.
I'd be happy with that, particularly given that they spotted the error themselves and raised their hands to the central bank.
The additional 5 per cent compensation is unacceptable.
Alternatively individually people should complain to company and then to FSO. 123 would spend more than 80 euro processing each complaint!
Don't see where the indignation is coming from here, but complaints to the FSO is hardly likely to encourage any other company to be so honest and come forward with such an offer in future. Remember, they broke no rules here, they offered people insurance at a price they were willing to pay.
In this specific case, treating a customer fairly, which is a requirement under CPC.... So based on the limited information we have available here, they have breached CPC.
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