Which? calls for more action against Swinton

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Which? calls for more action against Swinton

Thu 29th Oct 2009

Which? has called for additional punishment to be handed out to Swinton for breaching regulations over payment protection insurance (PPI).

Vera Cottrell, personal finance campaigner at the consumer watchdog, suggested that the Financial Services Authority (FSA) should take some form of action against senior management at the insurance firm.

She claimed that customers should get automatic refunds if they were victims in the situation.

"As an insurance broker, Swinton is supposed to give tailored advice to its customers. Instead, it saddled thousands of people with unnecessary and unsuitable insurance," she explained.

Swinton were fined £770,000 by the FSA for mis-selling PPI to customers, but Which? noted that revenue from sales of this type of product over the period was £7.8 million.

Ms Cottrell called it a "truly shocking case".

This week, Which? proposed that financial services providers who give incorrect advice to customers should be named by the FSA and ensure that anyone who loses money gets a refund as soon as possible.

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