Findel has increased the amount of money it set aside to pay back customers who were sold insurance with little or no value by its subsidiary Express Gifts. The company said in a statement that it had paid out $16.7 million since April and was working on paying off another $4.2 million. Findel has increased the amount it has set aside to pay back customers who were sold insurance that offered little or no value by a further £11.3m to £29m. Findel initially allocated £11.3m ($14.1m) for the repayments, but has raised this figure to £29m.
Findel has increased the amount of money it set aside to pay back customers who were sold insurance with little or no value by its subsidiary Express Gifts. The company said in a statement that it had paid out $16.7 million since April and was working on paying off another $4.2 million. Findel initially allocated £11.3m ($14.1m) for the repayments, but has raised this figure to £29m.