The Financial Regulator has fined the Hibernian Insurance company €45,000 for breaches in the consumer code.
The breaches relate to the non-disclosure of information when selling of optional extra benefits on motor insurance policies.
The suspected breaches occured in May 2007 and Hibernian has confirmed that they happened because the company misinterpreted its obligations under the consumer code.
No customer complained directly to the regulator but Hibernian has contacted customers who could have been affected and made refunds totalling €16,608.
The Financial Regulator says that Hibernian co-operated fully with the examination and the matter is now closed.
