Liberty responds to being hit by £5.3m FCA fine

Fine warning

Liberty Specialty Markets has responded to Liberty Mutual Insurance Europe (LMIE) being fined £5,280,800 by the Financial Conduct Authority (FCA) for failures in its oversight of mobile phone insurance claims and complaints handling.

The fine had been reduced by 30% from £7,544,000 due to Liberty settling at an early stage of the investigation.

“This fine from the FCA relates to activity undertaken by LMIE (our Company market operation), under an arrangement which began in 2010, before the

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