 The Competition and Markets Authority (CMA) has revealed that Direct Line Group (DLG) breached rules over no claims bonuses.
According to the watchdog, the insurer failed to provide at least 320 customers with no claims bonus protection information between June 2023 and 18 January 2024.
“This was caused by Direct Line’s systems adding no claims bonus protection by error to customers’ policies, without their permission and only notifying them after the no claims bonus protection had been applied to their policies,” the regulator added.
The CMA added that it had been notified of the breach on 18 July 2024.
Outcome
Following a market investigation into motor insurance in 2014, the CMA implemented measures to make it easier for customers to understand what the no claims bonus protection is.
The incident involving DLG breached part two of The Private Motor Insurance Market Investigation Order 2015.
However, the CMA said DLG had taken steps to prevent a recurrence and to put things right for affected customers.
This includes refunding customers who had not wanted the protection and carrying out tests on systems.
As a result, the CMA “does not consider it appropriate to take formal enforcement action in relation to this breach at present”.
“The CMA will monitor the resolution of this breach and Direct Line’s compliance with the order closely,” the watchdog added. |
Because it's not guaranteed to happen. |
Why is this not moving |
Not long now :) |
Settle down chaps. No name calling please
Fingers crossed for an early'ish announcement |
Complete Muppet Again!
NMRN |
The difference is that no one believes a word of ‘mole’ words making it legal unlike from the CEO - Pal . |
Getting the info before time from the CEO would be illegal, but you think getting same info from another source is not? LOL.
Insider dealing is insider dealing it does not matter which insider tells you. |
Surely the only guarantee if the deal goes through is that you will get 134.7p plus a number of shares in Aviva. Because that is a moving target it depends on when you sell but unless the Aviva shares increase I would think it will hover below 275p |
CMA - Con Man Attempt?
Completely Made-up Article?
Company Mole Agency?
Just asking.........................
NMRN |
Just bought 2000 Fingers crossed |
Sorry ! The CMA. - Govt Body . |
The CMA is the Competition and Markets Authority.
Hopefully the 'Commission Merger Authority' wasn't on good authority of the 'Inside Mole' suggesting to load up with DLG, lol. |
No - there is still one hurdle - the approval by the CMA ( Commission Merger Authority |
no. the current price of the bid is worth 267.7p. at todays aviva price of 363p.
Its all clear in the offer. Some of the original offer was linked to the aviva share price. |
Am i right in saying that next Tuesday these will be 275 providing the offer is made and accepted |
I should say - add more at a good discount . |
Absolutely agreed . DLG share price starts the upwards ascend, just about 48 hours max before the good news and then is too late to add more |
The most credible sources are often not those you would think. I recall when the insurer I worked for was to be sold by our US parent. My wife heard about it before me despite me being on the executive team at the time. How? A friend of hers knew the driver who had taken the President of the US parent back to the airport - and heard him discussing the sale! I did not believe it until it was confirmed to me by our CEO a few days later. |
I know that pal. My point is I hope what you are saying is right but I am not going to act on it as the reality of the info is just a post on a BB.
I am not saying what you have posted is untrue but it isn't the same as hearing such information first hand.
Good luck all 👍🏻 |
Pal , if you are given the news from a credible source (ie from the CEO or any one from the Board) before the news is out then this is illegal for your information . Only an insider mole can release this news and is up to everyone of us whether to take the bite at the cherry or not . |
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