Warning over illegal car insurance

Thu, 21 Sep 2006

UK motorists are being warned that some car insurance policies could be illegal.

A company called Double Easy Brokers, trading as Easybrokers, has been providing UK residents with invalid car insurance policies, claimed the Financial Services Authority.

The Financial Services Authority added that UK motorists who have purchased these policies could be breaking the law, by driving without car insurance.

Easybrokers had claimed that it was affiliated with Zurich Insurance group and provided car insurance policies under its name, but had no official association with the company.

The Financial Services Authority commented: "Double Easy Brokers traded through its website in a style identical to that of easyMoney.com Car Insurance.

"Both Zurich and easyGroup brought this matter to the Financial Services Authority's attention and provided information on the activities of Double Easy Brokers."

The body also warned that invalid car insurance policies have been bought in Cardiff, Leeds and Southampton, although the effects could be more widespread if the policies have been bought by franchisees or other brokers.

Although the Financial Services Authority is a non-governmental organisation, it has statutory powers to regulate the financial industry.


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