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

Paulgonnabedebtfree

Mine went up from £20.xx to £26.00 a few months back so I reckon I will have a little bit to come back. Possibly only about £30 - £40 but that's fine as I wasn't expecting it. They'll probably just ramp it up even higher in 2010 to make up for it.

zoeeeet

We are in a similar position to DAVEMOON and MRRAPPS above.

We are with ant insurance now adminicle and they doubled our mppi premiums in june. (only just discovered this today:o) They did not send any notification either by post or email to advise of premium increase or company change are they allowed to do this?)

After reading the threads and related articles today i am still unsure what to do, do I

A)keep my insurance with adminicle (till jan) then change policies to cheaper premium and hope i get an automatic payout in June.

B)set up a new policy with another insurer than cancel policy with adminicle (as i have not cancelled within 2 months of price hike-would this option affect my refund in june.)-nearly cancelled and set up new policy this morning then noticed adminicle was scheme administrater for justclickforcover.

reluctant to continue paying overinflated premiums and don't know if i'll get refund
any help gratefully received.
this site is fantastic

mrapps

To zoeeeet I'd say this (cos its what I'll be doing) ..

Be proactive with Adminicle/Ant Insurance - write to them and ask for the repayment and quote this ruling.

I've learned with a few things over the last few years, bank reclaiming, debt management plans (ouch!) - sitting on your hands wont get you anywhere.

Equally it doesn't hurt to go out and start looking for alternative policies. However, Sadly, I dont know what the situation is regarding reclaiming for recently cancelled policies. Knowing these companies, if they can find a loophole to stop paying they'll use it. If you can afford to keep with adminicle/ant until you get a definitive pay/non-pay decision that MIGHT be the way to go.

(disclaimer (!!) - all personal opinion - the only fact I know is that Adminicle/Ant are *!%$£$£)

zoeeeet

Thanks mrapps, I'll be firing off a letter asap. Will keep you all posted of any progress.
We've been siting on our hands far too long and that's what's got us into our mess. As for adminincle/assurant my sentiments exactly!

adamcarvell

im with cardiff pinacle and mine went up from £20.00 to £26.00 just like that this year i was thinking of canceling it as i carnt afford it anymore having had a 20% paycut . shouldi stick with it or switch to iprotect which is far cheaper and pays out more also been with the company i work for nine years nearly so im not sure if it's worth me having at all as im trying to trim my out goings you see any advice much appreciated.

adamcarvell

no one with any advice knowledge?.

zoeeeet

Sorry adamcarvell can't say what is best, but I've just had responce from antinsurance hope it helps all those whose insurance was changed from antinsurance to adminicle without notification.

"Thank you for your e-mail. The FSA ruling states that all increases made since 1st January 2009 are to be refunded.
As the only increase to your premium since that date was made by your new insurer, you will need to contact them to arrange your refund.
They can be contacted on 01285 886627 or by e-mail at admin@adminicle.co.uk
Regards
Susan Power
Policy Administration Department"
Sounds lilke buck passing to me.

dany_2

zoeeeet wrote: »

Sorry adamcarvell can't say what is best, but I've just had responce from antinsurance hope it helps all those whose insurance was changed from antinsurance to adminicle without notification.

"Thank you for your e-mail. The FSA ruling states that all increases made since 1st January 2009 are to be refunded.
As the only increase to your premium since that date was made by your new insurer, you will need to contact them to arrange your refund.
They can be contacted on 01285 886627 or by e-mail at [EMAIL="admin@adminicle.co.uk"]admin@adminicle.co.uk[/EMAIL]
Regards
Susan Power
Policy Administration Department"
Sounds lilke buck passing to me.

I think this was covered in another thread in May/June but here it is again.

• Ant Insurance sell this insurance.

• Assurant were the underwriters for the insurance.

• In June all the policies were transferred to a new underwriter and are now administered by Adminicle.

• Following the transfer the premiums were increased by the new underwriter.

My guess based in the response you received is that you contacted Assurant but they didn't increase the prices so can't answer your question. You would have to contact Adminicle to get an answer. Hope this helps

marshallka

Here is my reply to the one I sent to Helpupay (cardiff pinnacle) about ours going up this year.
> Thank you for your recent enquiry regarding the new FSA Agreement that has
> recently been announced in the press.
>
> I can confirm that a letter will be sent to all of our customers in the
> next few weeks to advise how this will affect them and the changes we are
> making.
>
> I would like to add that although the FSA have specified we must complete
> all refunds by June 2010, we are aiming to resolve the issue by the end of
> the year.
>
> If you have any further queries, please do not hesitate to contact us.

adamcarvell

thank's for that.