FSA slaps fine on Hastings

The Financial Services Authority (FSA) has hit direct provider Hastings with a fine of £735,000 for failing to treat its customers fairly.

The fine was slapped on the firm following an 'internal systems error' at Hastings Direct in September last year, when it provided 4,550 clients with incorrect car policy pricings and cancelled their cover as a result. Hastings allegedly told several customers that the fault, in fact, lay with Highway. However, this was denied by the insurer (Insurance Age