123.ie to issues refunds to thousands of customers
123.ie, the Irish insurance company owned by the RSA, confirmed that around 8,000 motor policy customers had paid more than they should have for their insurance cover due to a technical error relating to vehicle history information.
Customers have been informed of the company’s error and letters have been sent in recent weeks to affected policyholders, including those whose policies have since lapsed.
The average refund is around €80 and 123.ie will also pay an extra 5% in compensation for the error.
It is expected all affected customers will be refunded by the end of this week. A spokesperson for the insurer said efforts have been made to ensure the “technical” error doesn’t happen again.
“123.ie can confirm that it is currently refunding customers to correct a charging error that affected some motor premiums. The error related to some of the vehicle history information, it was technical in nature and the company has taken steps to ensure it doesn’t recur,” the spokesperson said.
“It was identified by the company and notified to the Central Bank of Ireland in October, 2015. The company immediately began the process of identifying which customers had been impacted and determining the refunds due to them.”
