Policyholders deserve to be REWARDED for loyalty NOT overcharged! Operation Loyalty Penny aims to help those taken advantage of by insurers get compensation
@mornarose @AvivaUK Since January 2022 the "price walking" or "loyalty premium" practice that ripped off loyal customers was meant to be outlawed by the @TheFCA . Look at this @LoyaltyPenny
The Govt is paying £1million every two days to store useless PPE for which it overpaid and should never have bought in the first place https://t.co/2S08JxcffU
The Institute and Faculty of Actuaries has referred the #loyaltypenalty#pricewalking complaints to the Financial Reporting Council because of the significant public interest aspect: millions of policyholders were affected, losses were > £5 billion, damaging to the industry
Initial batch of formal complaints v senior actuaries at insurance companies that seem to have engaged in #loyaltypenalty#pricewalking were sent off today to the Institute and Faculty of Actuaries. Anyone involved needs to explain why this happened despite TCF/Actuaries' Code
Recent reforms "are clearly not having an impact on the liability premiums paid by businesses, voluntary and community groups, sports and cultural organisations and charities."
#InsuranceReform
https://t.co/hmn8TwfWIS