In news you may have missed, Kwik Fit Insurance are in a pickle after a major balls up by their admin system let over 800 drivers get insurance policies they should never have been entitled to.
Rather than bearing the cost of their own mistake, they decided to cancel all of the affected policies with just 7 days notice and a measly £25 goodwill payment. Then they offered to reinstate the policies at up to 3 times the price. Understandably that kind of behaviour is a short cut to a lot of annoyed customers.
It looks like several disgruntled policy holders will be taking their complaints to the Financial Services Authority and Financial Ombudsman Service. The ABI (Association of British Insurers) also made a comment that “Unilaterally ending a policy in this way could be a breach of contract.”
It does seem a very shoddy way for the boilersuit brigade to treat their (former) customers for an underwriting mistake of Kwik Fit’s own making. Perhaps they should stick to changing exhausts.