Renewal letters suggested customers were getting ‘competitive price’ without backing up claim
Lloyds Bank’s insurance arm has been fined £90m for sending insurance renewal letters to customers suggesting they were getting a “competitive price” without backing up the claim.
Between January 2009 and November 2017 almost 9m letters were sent to home insurance policyholders under its Halifax, Lloyds and Bank of Scotland brands. The language used in the letters suggested a good premium price was on offer for the next year’s cover.
