For updated information surrounding the Coronavirus please check the government website: https://www.gov.uk/coronavirus
Coronavirus: FCA introduces measures to support insurance customers
The Financial Conduct Authority brought in new measures from Monday 18th May to help insurance customers with financial difficulties during the coronavirus pandemic. The measures cover all types of general and protection insurance including vehicle insurance, home insurance, travel insurance, boiler cover, life insurance and private medical insurance. Customers must first get in touch with their insurance firm, who will consider options to help, for example changing what is covered to lower premium payments. If a customer continues to struggle to make payments, firms are expected to grant payment holidays of between one and three months. Customers can request payment deferrals at any point until 18 August 2020. The measures will be reviewed in three months’ time and may be changed at that point if appropriate.
Virgin Money credit cards
Last week Virgin Money wrote to a number of customers to tell them that they would no longer be able to use their cards to reduce the chance they would suffer financial difficulty. However, they have now reinstated the credit cards after complaints.
Coronavirus: Tesco bank
Tesco bank is now offering to send cash up to £500 free of charge to savings and personal current account customers who are self isolating or shielding.
Coronavirus: Be scam aware of cyber criminals
Look for the following signs of scam emails:
* “URGEN” in the subject line, spelling errors or unusual spellings of words in email addresses,
* attachments that you do not recognise,
* phone numbers that do not match those on a company’s website and
* email addresses that change when you hover your mouse cursor over them
In all cases, DO NOT open e-mails or attachments if you are suspicious about them.
Coronavirus: Competitions and Markets Authority to investigate companies inflating price of goods
The Competition and Markets Authority has launched a taskforce to deal with businesses who have been charging inflated prices for products such as hand sanitisers. They will investigate whether there have been any breaches of competition or consumer law.
EasyJet admits cyber-attack has affected customer data
EasyJet has admitted that a cyber-attack affected approximately nine million customers. Email addresses and travel details were stolen. Also 2,208 customers had their credit card details “accessed”, including the three digital security code. The company notified customers whose credit card details were stolen in early April and is now notifying everyone affected by the cyber-attack by 26 May.