British Motorists to Get £200 Million Compensation From Insurers

Group 1 - British insurance companies are compensating motorists £200 million ($270 million) for underpaid claims, affecting approximately 270,000 customers [1] - The Financial Conduct Authority (FCA) found that some insurers were making automatic deductions for assumed pre-existing vehicle damage, disadvantaging careful drivers [2] - The FCA has already seen £129 million paid out to affected customers as part of the compensation [1] Group 2 - The FCA is conducting a separate investigation into the motor finance industry regarding secret commissions charged on car loans [3] - The FCA aims to ensure consumers receive fair value and has noted changes in practices that led to unfair payouts [2]