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

[Deleted User]

donnesh wrote: »

MMMM Ant have posted a reply to this in there website saying the FSA has decided there was no breach of contract and we are not entitled to any money. Anyone got any ideas what we should do now or is that it.?

GAME, SET AND MATCH TO ANT INSURANCE.

Great hey!!

onefurlongout

Looks like they hold all the aces now.

I've cancelled my policy now anyway and decided to go with First Call as their premiums are half.

I will sit and wait for a response from the FOS, I doubt this will get very far but if it doesnt I shall refer to a Senior Ombudsman. Nothing to lose.

I havent got a problem with what Alpha have done in principle. But they way in which they have doneit has caused so much confusion and as such not in line with the spirit of TCF.

Does anyone have a copy of the FSA ruling/publication?

joannecharles

After an extremely stressful year dealing with a divorce I have taken a look at my account today and found a direct debit to a firm called Trent Services. I was paying £15 to protect my mortagage payments - this has leapt to £49. And worst of all, they have been taking the money since June 2009.
I have never heard of this company, and received no letter telling me of the price increase. I took my policy out with Assuramt.
Is there are chance I can get my money back - and how do I go about claiming?

Thanks,

Joanne

CHRH

I'm in the same boat and have sent an email to Trent requesting my refund. But reviewing the rest of this thread I'm not holding out much hope. But it has been invaluable reading it.

onefurlongout

I forgot to post this a few weeks back but the FSA had this to say in my email to them regarding claims that the FSA had agreed to comments posted on the Ant Website. The paragraph in question no longer exists.

We refer to your email to Julian Adams of 8 August and the email to you from Eleanor Linton. We understand that you are concerned about a change in pricing in your MOPE premiums in April 2009. At our request, the intermediary has now removed the wording about FSA approval from its website.
Further to your request about the findings the FSA made on MPPI, there was an agreement made in October 2009 between the FSA and the MPPI industry, under which firms had to refund increases to 2009 premiums if they had been made pursuant to unfair and inadequately disclosed variation terms in their existing policies. You will find further details here [URL="blocked::http://www.fsa.gov.uk/pubs/other/uct_mppi.pdf"]http://www.fsa.gov.uk/pubs/other/uct_mppi.pdf[/URL]
Please note that we have no powers to compensate consumers and will not become involved in any individual dispute that a consumer may have with a firm. A consumer should first try to resolve any such dispute with the firm. If this is unsuccessful, the consumer may wish to refer the matter to the Financial Ombudsman Service (“FOS”), if the dispute falls within its jurisdiction, or pursue the matter through the courts. Please note that there is a time limit for referring disputes to the FOS. Generally, a consumer will need to refer a dispute to the FOS within 6 months of the 'final response' letter from the firm. Further information on the work of the FOS is available on its website: [URL="blocked::BLOCKED::outbind://15/www.financial-ombudsman.org/consumer/complaints.htm"]www.financial-ombudsman.org/consumer/complaints.htm[/URL]. Further information on consumers' rights is also available from Consumer Direct through its website - [URL="blocked::BLOCKED::outbind://15/www.consumerdirect.gov.uk"]www.consumerdirect.gov.uk[/URL] - or by calling 0845 404 05 06.
We trust this answers your queries.
Regards




My complaint continues at the Ombudsman, I have been contacted by them now asking to provide a final response from British Insurance. Will anyone take responsibility for this mess?

marshallka

onefurlongout wrote: »

I forgot to post this a few weeks back but the FSA had this to say in my email to them regarding claims that the FSA had agreed to comments posted on the Ant Website. The paragraph in question no longer exists.

We refer to your email to Julian Adams of 8 August and the email to you from Eleanor Linton. We understand that you are concerned about a change in pricing in your MOPE premiums in April 2009. At our request, the intermediary has now removed the wording about FSA approval from its website.
Further to your request about the findings the FSA made on MPPI, there was an agreement made in October 2009 between the FSA and the MPPI industry, under which firms had to refund increases to 2009 premiums if they had been made pursuant to unfair and inadequately disclosed variation terms in their existing policies. You will find further details here [URL="blocked::http://www.fsa.gov.uk/pubs/other/uct_mppi.pdf"]http://www.fsa.gov.uk/pubs/other/uct_mppi.pdf[/URL]
Please note that we have no powers to compensate consumers and will not become involved in any individual dispute that a consumer may have with a firm. A consumer should first try to resolve any such dispute with the firm. If this is unsuccessful, the consumer may wish to refer the matter to the Financial Ombudsman Service (“FOS”), if the dispute falls within its jurisdiction, or pursue the matter through the courts. Please note that there is a time limit for referring disputes to the FOS. Generally, a consumer will need to refer a dispute to the FOS within 6 months of the 'final response' letter from the firm. Further information on the work of the FOS is available on its website: [URL="blocked::BLOCKED::outbind://15/www.financial-ombudsman.org/consumer/complaints.htm"]www.financial-ombudsman.org/consumer/complaints.htm[/URL]. Further information on consumers' rights is also available from Consumer Direct through its website - [URL="blocked::BLOCKED::outbind://15/www.consumerdirect.gov.uk"]www.consumerdirect.gov.uk[/URL] - or by calling 0845 404 05 06.
We trust this answers your queries.
Regards




My complaint continues at the Ombudsman, I have been contacted by them now asking to provide a final response from British Insurance. Will anyone take responsibility for this mess?

Did you complain and get a final response from British Insurance at all?

onefurlongout

They advised me that they would pass my concerns to Alpha. Of course I already have a final decision from Alpha.

Round and round in circles. Have advised the FOS that they need to determine responsibility

onefurlongout

Final response finally acknowledged by the FOS. Time to sit back and wait another 6 months.

Not sure this is at an adjudicator level yet as I keep getting letters from a consumer consultant (admin person).

Fingers crossed

mumofliam

Hello everyone,


I'm new in the discussion but I've been following this thread for a while now, somewhat hoping that if there were quite a few of us trying to get a refund of MPPI premiums from the companies above, then we might be able to get to a positive outcome.


In our case the increase in premiums from the transfer of policies (June 2009) until December 2009 amounts to £233. Like most of us I have tried to get a refund from all these companies without any success.
- Assurant and British Insurance have refused to refund sums that Alpha Assurance had pocketed.
- Adminicle were useless
- Alpha Insurance have refused on the basis that our policies were new business. Apparently they have discussed this position with the FSA but they do not want to share any document with me, so I am quite doubtful.


I ended up logging a complaint with the FOS, using a matrix relating to the MPPI ruling shared earlier by mrke (thanks very much). On page 3 of the matrix a note states that
“Some cancellations may arise from a distributor switching a portfolio of contracts between insurers so that cover for the customer continues. Any resulting variation, for example in premium, would be treated in the same way as any other variation.”

Therefore in my opinion the ruling is applicable to transfered policies, even if it is new business for the new insurer.



I had bad news today from the FOS. Although they have confirmed that a refund, if any, should come from Alpha Insurance, they have refused to deal with my complaint any further because Alpha Insurance are not based in the UK, therefore do not fall in the FOS jurisdiction. They suggest that I take the matter to the Danish FOS (as if they would bother...) and/or the EU FIN-NET.


There must be another way to get a non-UK based financial company which is registered with and regulated by the FSA to comply with a FSA regulation? I am writing to the FSA today to ask for advice, but I would welcome any other idea...


All the best,

onefurlongout

Hi mumofliam,

This is not good news at all, I'll be interested in seeing what the FOS have to say about my case. Do you know where I can get a copy of the MPPI ruling you mention in your post? I would like to forward this to the adjudicator.

I find it shocking that someone can conduct business in this country but not abide by our own regulation why would they even provide FOS rights?

I assume they have passported into the UK. I will send you via PM details of the contact at the FSA whom I emailed about the Ant article.

Cheers