MSE News: £60m refund for mortgage protection hike victims

dwallace

Thanks, I'll give them a call tomorrow morning
Darren

mrapps

I've been keeping an eye on this too as I'm with the same bunch of shysters (Ant / Alpha now Trent)

Looks like its time to write to them., time is running out.

onefurlongout

Rather worryingly it states on the FSA register that Alpha is no longer authorised under the following number

451184 - Alpha Insurance A/S.

Maybe it is registered under a different number now

dwallace

They have a new number now its 431621, but it looks like we're on to a loser with this as they only started doing the insurance from June, so havent put their prices up! Trent arent interested and it all sounds a bit fishy to me, they say they dont have a telephone number for Alpha, however I spoke to Alpha headoffice in Denmark this morning and they confirmed that they owe no one refunds.
I think its time me and British Insurance parted company!!:(

mrapps

I dont think we give up yet. I received this back in Feb from them:

Although there is a change of Administrator from 1st March you will still be insured by Alpha.

As previously advised, at present no decision has been made regarding the Ant Transfer policies. The Insurer has until June 2010 to write to you regarding this matter and you will receive correspondence from them prior to this date, and when clarification has been received from the FSA.

If you have any further queries please write to Alpha directly at 68 King William Street, London EC4N 7DZ.

and if they do not abide by this then I think we have a legitimate cause to raise a complaint via the FOS.

It would certainly appear that there actions are a deliberate attempt to circumvent the FSA guidance but we cant really say that for certain until they communicate to us (or not as the case may be)

Keep the faith brother!

dwallace

Hi MrApps,

I've spoken to the jokers at Trent, its a two person band by the sounds of it, they say the FSA has made the ruling that there is nothing to be refunded, I've asked for it in writing and they say they will email me today, I'll let you know what it says, but with all the changes its quite apparent that it was a deliberate move to avoid paying refunds.
Cheers
Darren

dwallace

Had a reply off Trent as follows - they've obviously just changed my name on the letter, as I havent cancelled my policy even though they say I have:

With regard to your recent phone call, please see the below response from the
Underwriter;
We understand that your previous insurer, Assurant Solutions advised your intermediary
British Insurance that they no longer wished to insure you and that they should seek an
alternative insurer. This wasn’t due to you personally but due to the fact they were losing
money following the increase in the number of redundancies in the recession and the
rising costs of claims.
We, along with other insurers, were approached to quote for the business.
We agreed terms for a new contract of insurance to insure you so that you could continue
to be protected, even though you would have to pay a higher premium.
A letter was issued on the 28th April 2009 advising who Alpha Insurance A/S were and the
terms they required to provide the insurance (copy attached). The terms they offered were
the same for all our new insureds. Everybody was given 30 days notice of the change of
insurer and ourterms. If terms were unacceptable cover could be cancelled during the notice period and
no premium would be collected.
In 2009 the UK Financial Services Authority and the Association of British Insurers came to
an agreement that Insurers should not vary terms or cancel the policies of their existing
insured at short notice. We do not form part of this agreement in this instant because we
have contracted with you as a new insurer, therefore no refunds will be issued by Alpha
Insurance A/S. We have discussed our position with the Financial Services Authority and
you must liaise with your previous insurer for their position on this agreement.
We note that you have already cancelled your policy, however we are happy to continue to
provide you with insurance if you wish to reinstate.
If you are not happy with this response you have the right to contact the Financial
Ombudsman Service, details of whom are detailed below:
The Financial Ombudsman Service You can telephone on: 0845 0801800
South Quay Plaza Fax enquiries to: 0207 9641001
183 Marsh Wall
London E14 9SR
Email enquiries to: [EMAIL="enquiries@financial-ombudsman.org.uk"]enquiries@financial-ombudsman.org.uk[/EMAIL]
Visit their website on:
I have also enclosed our Complaints Handling procedure for your information.
Yours sincerely
Jane Ledamun
Operations Manager

dwallace

Its also interesting that Jane Ledamun who is apparently the owner used to be a director of Adminicle, I really think all of these changes were done to avoid refunds.

mrapps

looks like you're right dwallace. time to start the FOS process I think.

all evidence points to deliberate avoidance of the FSA ruling.

dunstonh

I don't know but I suspect that the FSA would be interested in this as a rule avoidence and breach of TCF. If you change the provider then its you doing the change. However, you are not responsible for the provider changing the underwriter.

It's these internet companies that are to blame for the FSA ruling in the first place. To then try and avoid it like this is disgraceful.