Wednesday, 18 January 2012

Fining Insurance Companies

Am I the only one who finds it a little absurd to hear of Direct Line being fined for tampering with customer complaint files before submission to the regulatory body... How is fining them telling them off?.. All they'll do is pass on the cost of the fine to the already adversely affected customers in the form of higher premiums.

Surely to punish the insurer they should have enforced a drop in the amount of money they could charge for products for the next year... "24p per customer" or some such thing would be a fine, it would tell them off, and would enforce higher customer service standards as they would be scared of getting another fine.

Gah, the world whirls around and insurers charge what they like, and now the regulator enforces things in the most customer unfriendly way!

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