RAC facing refund costs over breakdown cover renewal letters

Insurer accused of breaching FCA rules intended to make price rise clear to consumersThe RAC could be forced to offer refunds to up to 1 million breakdown recovery customers after its policy renewal letters failed to prominently display the previous year’s premium. Under transparency regulations introduced a year ago by the Financial Conduct Authority (FCA), companies have to clearly show the amount the customer paid the previous year alongside the renewal price.Continue reading...