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MSE News: Help to be given to vulnerable people at insurance renewal
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Former_MSE_Paloma
Posts: 531 Forumite
Vulnerable people could be given help to check and better understand their insurance renewal notices from next year...
Read the full story:
Help to be given to vulnerable people at insurance renewal
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Help to be given to vulnerable people at insurance renewal
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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So the data will be provided by the industry and collated by their industry representatives."Second we will seek to address the perception that insurers don't pay claims through improved transparency. Having collected the data from our members, early next month the ABI will publish for the first time the overall claims acceptance rates for each of motor, property and travel products."
No chance of any numbers fiddling going on here then? :rotfl:"This represents a real watershed moment. It will hopefully go some way towards reassuring customers that our intention is not to avoid paying out when they need us most – but that the very opposite is true."
Ok. That's case closed then !
Warning: In the kingdom of the blind, the one-eyed man is king.
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Consumerist wrote: »So the data will be provided by the industry and collated by their industry representatives.
No chance of any numbers fiddling going on here then? :rotfl:
I completely share your concerns.
Interestingly, my area of interest (motor legal protection) the insurers and their ABI mouthpiece have apparently succeeded in convincing the FCA that it would be a bad idea (sorry I meant not helpful to consumers) if the claims payment ratios were made available on products such as motor legal protection policies.
Why is that? - Because the policies are a sham and they never pay any lawyer fees - hence why they only cost about £0.50p each0
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