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Companies in Default/FSCS Claims - Picture, London Scottish, Twopart
Comments
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marshallka wrote: »It says here from the FSA handbook
COMP 12.4.11A
(1) 2Unless the FSCS is seeking to secure continuity of cover for a relevent person under COMP 3.3.1 R to COMP 3.3.2E R, it must:
(a) pay compensation in accordance with COMP 12.4.11 for any benefit provided for under a protected long term insurance which has fallen due or would have fallen due under the contract to be paid to any eligile claimant and has not already been paid; and
(b) do as soon as reasonably practicable after the time when the benefit in question fell due or would have fallen due under the contract (but subject to and in accordance with any other terms which apply or would have applied under the contract).
(2) If the FSCS decides to treat the liability of the relevant person under the contract as reduced or (as the case may be) disregarded under COMP 12.4.14 R then, for the purposes of (1), the value of benefits falling due after the date of that decision must be treated as reduced or disregarded to that extent.
I was wondering if it was cause they are continuing the cover for the insurance and so this does not apply. Someone else have a read and see what you think....
http://fsahandbook.info/FSA/html/handbook/COMP/12/4
I get really confused marshallka with this legal jargon is it saying if you don't cancel the Ins. then they deduct the NCB. If so should they no give the option to cancel and deduct the rebate instead as they have done in other cases. I know from past posts, it appears to either or. dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
marshallka wrote: »It says here from the FSA handbook
COMP 12.4.11A (1) 2Unless the FSCS is seeking to secure continuity of cover for a relevent person under COMP 3.3.1 R to COMP 3.3.2E R, it must:
(a) pay compensation in accordance with COMP 12.4.11 for any benefit provided for under a protected long term insurance which has fallen due or would have fallen due under the contract to be paid to any eligile claimant and has not already been paid; and
(b) do as soon as reasonably practicable after the time when the benefit in question fell due or would have fallen due under the contract (but subject to and in accordance with any other terms which apply or would have applied under the contract).
(2) If the FSCS decides to treat the liability of the relevant person under the contract as reduced or (as the case may be) disregarded under COMP 12.4.14 R then, for the purposes of (1), the value of benefits falling due after the date of that decision must be treated as reduced or disregarded to that extent.
I was wondering if it was cause they are continuing the cover for the insurance and so this does not apply. Someone else have a read and see what you think....
http://fsahandbook.info/FSA/html/handbook/COMP/12/4
Not sure marshallka, I get really confused with all these rules. So if they don't cancel ,they deduct NCB. If they do cancel they would not deduct it.
But they haven't been given the option to cancel. With previous cases they deduct the premium rebate on the assumption they will cancel, and if they do they get the cancelled amount back Therefore they don't actually lose the amount that has been deducted as it is returned one way or another - even if it is put back to be deducted from the loan dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
It's happened again with my replies, don't know what is going on with my system:mad: dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0
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But the point is others will let their insurance run AND get full compensation AND their NCB.
As Marshallka said you cant have different rules for claimants.
Unless the time comes for the NCB and Target say , no you cant have it which I wouldn't put past them to do.
Do you think that Target could stop the NCB, if the Insurance is left to run. I think if that was the case, the FSCS would have had to advise on this one, in the settlement letterdialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Using the new computer, and thought it was this causing problems, is it this site? The one and only "Dizzy Di"
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thats what i take it to mean as well. if they are letting the insurance run they cant pay it twice?
If this was the case, I would think FSCS should have explained this and claimants given the option to cancel or not before settlementdialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Using the new computer, and thought it was this causing problems, is it this site?
Glad it's not just me di, must be the site dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Do you think that Target could stop the NCB, if the Insurance is left to run. I think if that was the case, the FSCS would have had to advise on this one, in the settlement letter
If I remember someone was told by Target they would have to return their NCB to the FSCS when they got it (after they had received their compensation) and the FSCS said that was rubbish.DS1 12/10/04
DS2 13/07/06
DD1 06/12/070 -
If I remember someone was told by Target they would have to return their NCB to the FSCS when they got it (after they had received their compensation) and the FSCS said that was rubbish.
I seem to remember this, wonder who it was. There are that many posts here now, it would be ddifficult to find.(but I will try);) Think it might have been lian or old-wulf, sure it was about that time. Wasn't it lian who was going to send in the letter to Target that I put togetherdialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0
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