Lautro was the regulator for endowments before the FSA.

In the late 1908s and early 1990s, insurers would give example projection figures which included Lautro's scale charges, rather than their own, which were usually higher.

In a review way back in 2001, the FSA found that a number of companies had engaged in pre-contractual misrepresentation and in some [instances] a breach of contractual warranty.

How many companies? There may have been as many as eleven.

Who were they? Typically the FSA - fearless guardian of the consumer - will not say.

But some insurers have paid redress to thousands of customers, including Axa, Legal & General, Norwich Union, and Scottish Widows.