Another penalty was decided upon due to the mis-sold policies in the United Kingdom. The financial regulator in Great Britain has issued a fine to Lloyds Banking Group, making leading insurance news as the insurer failed to appropriately manage the complains connected with the policies that were sold on mortgages and loans. This fine has been decided to be £4.3 million ($6.7 million) due to the company’s failings in systems and controls. According to the Financial Services Authority (FSA), the bank failed to implement and use systems and controls that…
Read MoreInsurance news from Lloyds of London includes fine for $6.7 million
