Express Gifts, a direct mail order and online business with permission to sell general insurance products, has entered into an agreement with the Financial Conduct Authority (FCA) to provide £12.5m redress to around 330,000 customers sold insurance that "offered little or no value".
According to the regulator, the insurance products sold by Express Gifts covered against accidental damage and theft for all products purchased from its Ace or Studio brands. The insurance was called "Property...
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