Insurance Age

FCA slaps HomeServe with its largest-ever retail fine

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    • Andrew Pearce

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Home emergency and repairs insurance cover firm hit with £30.6m fine.

The Financial Conduct Authority (FCA) has stung HomeServe Membership with a £30.6m fine - the largest-ever retail fine dished out by the regulator.

The watchdog found that HomeServe had "serious, systemic and long-running failings" across its business.

Last month, HomeServe confirmed that it had received a draft warning notice from the FCA proposing a penalty of £34.5m.

In the statement issued today, the regulator said that, in particular, between January 2005 and October 2011, it mis-sold

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