Direct Line customers in line for £30m refund as insurer reviews past pricing in regulatory first
Direct Line has agreed to a voluntary review of previous home and motor insurance pricing having charged some customers more for their renewal than they would have done if they were a new customer, the Financial Conduct Authority has confirmed.
The watchdog revealed it is the first time a formal voluntary requirement has been agreed with a firm in relation to its ban on dual pricing that came into force on 1 January 2022.
In a statement Direct Line accepted failing to comply with the regulations. The insurer detailed that an “error” in the “implementation of these rules” had led to some customers paying a higher renewal price than they should have.
Related Direct Line takes Adam Winslow from Aviva as group CEODirect
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