What a scam: insurance giant AXA is caught up in an industry-wide scandal that’s costing drivers as much as £750 million.
A report by the Telegraph found the insurance giant instructing a car-repair shop to charge a 50% markup on market rates, with ‘prestige vehicles’ such as Audi’s and BMW’s being charged at a 100% markup.
This is simply unacceptable. Big insurers are laughing their way to the bank, while British drivers foot the bill.
Let’s turn up the pressure on big insurers like AXA to put a stop to this unfair practice, and help end the squeeze on the nation’s drivers.
AXA: do the right thing and end these unethical secret charges!
The UK is already among the most expensive places in the world to be a driver, with a study by Carfinance247 placing us above Germany, Japan and Australia.
According the National Body Repairers Association, firms collude to hike up repair charges on each other if their driver is not at fault in the accident -- leading to maximum profits for insurers, and price hikes for the consumer.
Since the revelations, AXA has claimed it is following the letter of the law, saying, “This practice has long been challenged by AXA but we, and other insurers, were forced to adopt it after a series of high profile court cases ruled the practice was legal.”
If we can get AXA to opt out of this rip-off scheme, with pressure from SumOfUs members like you, other insurers will have to follow.
SumOfUs members have always stood on the side of the consumer against corporations trying to charge rip-off prices. Whether it’s over 90,000 of you telling pharma-giant Mylan to end its price-gouging on the EpiPen, or almost 300,000 members pressuring Martin Shkreli to reverse his 5500% increase on Daraprim, SumOfUs members have made their voices heard.
Now let’s tell AXA to scrap these secret charges -- and help drive out this shady industry practice.
AXA: scrap these secret charges and help drive out this shady industry practice!