CII criticises insurers’ profiting from premium finance
The Chartered Insurance Institute has questioned the ethics of making money from customers who pay monthly for insurance after Which? found several motor and home insurers were charging what the consumer watchdog called “excessively high levels of interest”.
A Which? survey asked 49 motor and 48 home insurers in August how much interest they charged customers who opt to pay for coverage monthly and found the average annual percentage rate across motor
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