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Central Bank fines insurance company over €40,000 after customers overcharged
The Central Bank of Ireland found that Keystone Insurance overcharged 62 customers over five years. By Lauren Boland Thursday 28 Jan 2021, 1:27 PM Jan 28th 2021, 1:27 PM 24,542 Views 8 Comments
Image: Shutterstock/Nopphon 1987
Image: Shutterstock/Nopphon 1987
THE CENTRAL BANK of Ireland has fined an insurance broker over €40,000 after finding that customers were overcharged and given unclear communication on fees.
Keystone Insurance Limited has been fined €41,385 for six breaches of the Consumer Protection Code 2012 between April 2012 and December 2017.
The Central Bank found that over five years, at least 62 customers were overcharged a collective total of €9,964.36.
Keystone has since reimbursed the customers.