FSA and firms reach agreement on MPPI

These measures include refunds of around £60 million. The industry has acted in response to FSA concerns over recent increases in premiums and reductions in what customers are covered for under their policy. The FSA's concerns centred on the terms permitting these changes, and how clearly they were disclosed. Following discussions with relevant trade bodies and some firms, the industry has responded by agreeing to: proactively refund increases in premiums, and reverse any reductions in cover, for customers who have experienced these changes to their policy in 2009; offer to reinstate...