Guardian Assurance

FSA fines insurer over endowments

Insurer Guardian Assurance and its associated company Guardian Linked Life have been fined $1 million (£750,000) for mishandling endowment complaints.

It is the fourth time that the Financial Services Authority (FSA) has fined an insurance company for not dealing with complaints properly.

The FSA said Guardian’s complaints procedure had “serious systemic flaws”