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Wrongly Collected Personal Accident Premiums.
HarveyC
Posts: 1 Newbie
I wonder if i can seek some advice ?
I have just received a full repayment of wrongly collected Personal Accident Premiums covering 27 years. This was a duplicate policy so premiums were collected twice by mistake.
Am I also entitled to a refund of compound interest of this wrongly collected money as the FCA and the large Insurer in question seem very unclear about this issue if not PPI.
Many thanks for any guidance..
I have just received a full repayment of wrongly collected Personal Accident Premiums covering 27 years. This was a duplicate policy so premiums were collected twice by mistake.
Am I also entitled to a refund of compound interest of this wrongly collected money as the FCA and the large Insurer in question seem very unclear about this issue if not PPI.
Many thanks for any guidance..
0
Comments
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15% simple interest for the period before 1 April 1993 and 8% after that (although the page linked to is making a case for this being too high given the low bank rate).
Any interest received is taxable.
http://www.financial-ombudsman.org.uk/publications/technical_notes/compensation-for-investment-loss.htm0
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