Can anyone advise re: Cardif Pinnacle

coralvb

I will try to keep this as short as possible...
I have had a couple of loans over the past few years mainly with HFC and GE Money. I can to realise this year that the PPI insurance that was sold to me with the loans was effectively useless as I have suffered with a chronic illness for a number of years (and that would most likely be the reason I would ever need to claim on the policy) and the fact that this would be cause for an exemption on the policy was never discussed at point of sale (or ever actually!) I wrote to GE and was told basically to 'bog off' as the loan was taken out before they were regulated (6months!!)
I contacted the fos who said they would look into them anyway. (I also mentioned HFC to them who I had not yet contacted and they contacted them on my behalf and three weeks later they refunded all my installments - but thats another story).
Fos decided they could not proceed with GE but said I may have a case with the underwriters, Cardif Pinnacle and they duly contacted them on my behalf.
I heard nothing from Pinnacle in the time limit applied so I contacted the FOS again who wrote to them again.
Next I received and returned questionnaire from Pinacle regarding and 5 weeks later received a reply stating the following:-
"You have alleged that you were not given information about specific exclusions and in particular medical conditions. We are unable to find any record of you ever having submitted a claim which was turned down on the basis of such an exclusion and in the circumstances this point of argument would seem irrelevant. If yu had submitted a claim which had been rejected on the basis of an exclusion that was not previously made known, we would understand your comments. If you wish to persue this line of argument please provide us with evidence tp show how the exisrence of of this term in you rpolicy has caused you loss."
(that put me in my place - NOT!)
"You have alleged that there were no steps taken to ascertain the suitability of the policy at the point of sale. We would remaind you that htis was not an advised sale process and at the time that the policy was sold (which predates the commencement of FSA regulation) there was no requirement to do so.
Although we have responded to the points above you should be aware that the policy was sold to you by GE therefore all allegations og misselling should be brought against GE Money, not this organisation. We will be writing to the Obudsman in due course."
(Despite the fact that it was the ombudsman who pointed me in their direction in the first place)
The then go on to tell e that the Ombudsman can only investigate the complaint if I write to them within the next six months etc etc.
So... I would like some advice on what to do next, I have considered instructing a solicitor but don't want to throw good money after bad (lost!) if I really don't have a leg to stand on.
Can anyone offer some pearls of wisdom??
Sorry - it's actually not that short is it.

di3004

coralvb wrote: »

I will try to keep this as short as possible...
I have had a couple of loans over the past few years mainly with HFC and GE Money. I can to realise this year that the PPI insurance that was sold to me with the loans was effectively useless as I have suffered with a chronic illness for a number of years (and that would most likely be the reason I would ever need to claim on the policy) and the fact that this would be cause for an exemption on the policy was never discussed at point of sale (or ever actually!) I wrote to GE and was told basically to 'bog off' as the loan was taken out before they were regulated (6months!!)
I contacted the fos who said they would look into them anyway. (I also mentioned HFC to them who I had not yet contacted and they contacted them on my behalf and three weeks later they refunded all my installments - but thats another story).
Fos decided they could not proceed with GE but said I may have a case with the underwriters, Cardif Pinnacle and they duly contacted them on my behalf.
I heard nothing from Pinnacle in the time limit applied so I contacted the FOS again who wrote to them again.
Next I received and returned questionnaire from Pinacle regarding and 5 weeks later received a reply stating the following:-
"You have alleged that you were not given information about specific exclusions and in particular medical conditions. We are unable to find any record of you ever having submitted a claim which was turned down on the basis of such an exclusion and in the circumstances this point of argument would seem irrelevant. If yu had submitted a claim which had been rejected on the basis of an exclusion that was not previously made known, we would understand your comments. If you wish to persue this line of argument please provide us with evidence tp show how the exisrence of of this term in you rpolicy has caused you loss."
(that put me in my place - NOT!)
"You have alleged that there were no steps taken to ascertain the suitability of the policy at the point of sale. We would remaind you that htis was not an advised sale process and at the time that the policy was sold (which predates the commencement of FSA regulation) there was no requirement to do so.
Although we have responded to the points above you should be aware that the policy was sold to you by GE therefore all allegations og misselling should be brought against GE Money, not this organisation. We will be writing to the Obudsman in due course."
(Despite the fact that it was the ombudsman who pointed me in their direction in the first place)
The then go on to tell e that the Ombudsman can only investigate the complaint if I write to them within the next six months etc etc.
So... I would like some advice on what to do next, I have considered instructing a solicitor but don't want to throw good money after bad (lost!) if I really don't have a leg to stand on.
Can anyone offer some pearls of wisdom??
Sorry - it's actually not that short is it.

Hello there

I would leave this to the FOS to sort out, as it seems that they will not accept liability as they did not sell the product.
Despite this though, they do have part responsibility, there is a thread on here somewhere which states something about the underwriters, if I can find it I shall post if for you.

Otherwise, leave this to the FOS.
I have one ongoing with the FOS myself in regards of the underwriter, and am waiting for this to be passed on to the adjudicator, so I am awaiting to hear on this one.

Think the FOS are back in work on Tuesday, give them a call, but do not give up quite yet, as the FOS may look at this in a different way than what Pinnacle are right now.

Good luck, please keep us posted.;)

dunstonh

Fos decided they could not proceed with GE but said I may have a case with the underwriters, Cardif Pinnacle and they duly contacted them on my behalf.

Did the FOS say why?

I cant see why Pinnacle would have any liability as they did not sell the insurance to you. It is the retailer that is liable. Not the provider. Its possible the FOS have mistaken what you told them as the Pinnacle response seems consistent with that.

So... I would like some advice on what to do next

Give up?

I have considered instructing a solicitor but don't want to throw good money after bad (lost!) if I really don't have a leg to stand on

You dont seem to have much in the way of grounds of complaint. Its pre-regulation (which is your biggest problem) and you have assumed that Pinnacle wont pay out when in reality they are saying they would consider any claim. Just because you have a pre-existing condition, does not mean you would be rejected on all claims. Just anything linked to that pre-existing condition. It does not void the whole lot.

So, as you cant use pre-existing condition as a reason for complaint and as it was pre-regulation (meaning no FOS protection exists), what grounds for court action would you go for?

Could you clarify if these are personal loans, secured loans or mortgages?