The UK’s Financial Conduct Authority cracked down on poor insurance practice in the year to March 31, according to its annual report.

Enforcement actions included the repayment of about £27 million ($55.22 million) to consumers following historic overcharging by an insurer, and the identification and correction of a £17 million ($34.77 million) client money deficit in a medium-sized motor insurance broker.

Another company removed two add-on products from sale due to duplicated benefits, with 670,000 customers contacted and a redress program secured.

The authority also prevented 1300 small law firms from renewing their professional indemnity insurance cover – worth more than £20 million ($40.9 million) – with an insolvent insurer that had stopped paying claims.

“We want consumers to feel confident in getting access to insurance products and services they can trust, and insurance markets that are sound, stable, resilient and competitive,” the regulator’s annual report says.