Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 23rd of May 2018
October 5, 2007

Halifax says sorry over premium payment error

by Richard Kilner

Story link: Halifax says sorry over premium payment error

Over 200,000 customers will receive letters from the Halifax to inform them that the wrong amount was removed from their account to pay their home insurance premium.

A technical error, which has since been rectified, is the cause, for which the Halifax have apologised and informed the FSA.

The Halifax has 1.5 million home insurance customers, most of whom will not be affected by this error. The customers affected are some of those who combine their home insurance premium and mortgage into one single payment.

Faulty computer coding meant that the correct amount was not collected to pay insurance premiums, and the underpayment remained on the computer meaning extra interest was charged.

The average interest refund is £12.47 and has already been credited to the relevant accounts. The average insurance premium underpayment is £100 and customers can either make a one-off payment or repay it over several months.

All affected customers will receive letters detailing what has happened, and apologising for the error.

The Halifax released a dedicated phoneline open from 8am to 8pm from Monday to Friday and 9am to 4pm on Saturdays. The number is 0845 602 1014.

 

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