FSA fines director £150k in insurance fraud crackdown

Andrew Jeffery, director of Jeffery Flanders Consulting, has been banned and fined £150,000 for "recklessly" failing to put in place insurance policies appropriately. The FSA says Jeffery exposed often elderly and vulnerable customers to the risks associated with not having adequate household or motor insurance. He is one of five individuals banned by the regulator for failings in relation to insurance fraud, including one "incompetent" husband, wife and sister-in-law team who used client money obtained through one company to set up another. Barrie Duncan Aspden, of Orion Direct, k...