FCA hits intermediary with £2.8m mobile phone insurance fine
The Financial Conduct Authority (FCA) has fined Policy Administration Services (PAS) £2,834,700 for poor complaints handling of mobile phone insurance policies.
The regulator said the conduct took place between June 2009 and September 2011 and included failing to identify the root causes of recurring issues and putting them right.
PAS has been defined by the FCA as an insurance intermediary which administers mobile phone insurance policies sold by Phones 4u. According to the watchdog, it was responsible for the customer relations, claims and complaints linked to these sales.
During the investigation - which was initially launched by the regulator's
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