UK watchdog says Direct Line breached rules over insurance add-on
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
0mins
Source: Reuters
Direct Line's Regulatory Breach: Britain's competition regulator, the CMA, reported that Direct Line mistakenly added a 'No Claims Bonus Protection' add-on to over 320 customers' policies without their consent between June 2023 and January 2024.
CMA's Response: Although the CMA will not take formal action against Direct Line due to the company's corrective measures, including refunds for affected customers, this incident highlights ongoing regulatory scrutiny in the insurance sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
