FSA has confirmed the Court of Appeal upheld a decision that two unauthorised companies providing what they described as “extended warranties” over satellite TV equipment were in fact providing contracts of insurance. As they were not authorised to do so, FSA applied for the two companies to be wound up. The Court of Appeal confirmed FSA’s view. Tracey McDermott said FSA was seeing many other firms offering similar products to those provided by these companies, in respect not only of satellite equipment but also of white goods, home entertainment equipment, electricity, plumbing and boiler problems. She said customers should consider the nature of the products and whether the firm selling them should have FSA authorisation. (Source: Court of Appeal Confirms “Extended Warranty” Case)
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FSA wins “warranty” appeal
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