FCA fines Liberty Mutual £5.3m

UK money

The Financial Conduct Authority (FCA) has fined Liberty Mutual Insurance Europe £5,280,800.

The regulator handed out the punishment for failures between 5 July 2010 and 7 June 2015 in Liberty’s oversight of its mobile phone insurance claims and complaints handling processes which were administered through a third party.

Liberty settled at an early stage of the investigation which meant it got a 30% discount. Without the discount, the penalty would have been £7,544,000.

The FCA noted

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: