Thousands overcharged by Irish insurer 123.ie

Irish insurer 123.ie is refunding thousands of customers after mistakenly overcharging them for motor insurance over two years.

The insurer, which is owned by RSA, confirmed that 8,000 motor policy customers had to pay more than necessary for their insurance cover because of the error. Customers have been informed of the company’s error and letters have been sent in recent weeks to affected policyholders, including those whose policies have since lapsed.

The average refund is around €80 while 123.ie is also paying an extra 5% in compensation for the error.