Thousands of Irish customers in line for a refund as insurance company 123.ie admits mistake
Insurance company 123.ie is refunding thousands of motor insurance customers who it mistakenly overcharged.
Around 8,000 people had paid more than they should have because of what the company said was a technical error relating to vehicle history information.
The company confirmed the mistake in a statement and said the average refund is €80. It is also paying out a further 5pc in compensation, and said the refund process will be completed within about a week, having started last week.
"123.ie can confirm that it is currently refunding customers to correct a charging error that effected 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 that it doesn’t recur," a company spokesperson told Independent.ie
"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."