Countrywide MPI help wanted

Delgerri66

Hi
I hope that someone may be able to give advice on the following

I've been paying Countrywide £16.90/month for an Accident,Sickness/redundancy insurance policy since 1996. I have discovered that as a civil servant I did not need this and I have asked that they refund the premiums.

Countrywide say that the onus is on me to prove that it was missold.
They have advised that they do not keep any paperwork pre 2000 and that their financial consultant would not have sold any insurance that was not relevant.

I'm now thinking that maybe I should approach the FSA but Countrywide state that they were not governed by them during 1996.

Any advice will be appreciated.
Thanks

di3004

Delgerri66 wrote: »

Hi
I hope that someone may be able to give advice on the following

I've been paying Countrywide £16.90/month for an Accident,Sickness/redundancy insurance policy since 1996. I have discovered that as a civil servant I did not need this and I have asked that they refund the premiums.

Countrywide say that the onus is on me to prove that it was missold.
They have advised that they do not keep any paperwork pre 2000 and that their financial consultant would not have sold any insurance that was not relevant.

I'm now thinking that maybe I should approach the FSA but Countrywide state that they were not governed by them during 1996.

Any advice will be appreciated.
Thanks

Hi there

It may be the case that you will have to pursue the actual insurer themselves, many of us have gone this direction as the FOS have suggested this to go this direction if in the same situation as yourself, however, with this being MPI, maybe Dunstonh will be able to help you on this one, good luck with this.;)

dunstonh

it may be the case that you will have to pursue the actual insurer themselves, many of us have gone this direction as the FOS have suggested this to go this direction if in the same situation as yourself

With MPPI it wouldnt be the same. Unlike secured loans, the broker can use a range of providers and the insurance company has no liability for the advice given.

In this case, seeing as its pre-regulation they can reject it on that basis. Its just too long ago.

I'm now thinking that maybe I should approach the FSA but Countrywide state that they were not governed by them during 1996.

The FSA dont handle consumer complaints and general insurance sales in that time were not their responsibility.

di3004

dunstonh wrote: »

With MPPI it wouldnt be the same. Unlike secured loans, the broker can use a range of providers and the insurance company has no liability for the advice given.

In this case, seeing as its pre-regulation they can reject it on that basis. Its just too long ago.



The FSA dont handle consumer complaints and general insurance sales in that time were not their responsibility.

Hi Dunstonh, thanks for confirming this, I was not too sure, thanks though.;)

Delgerri66

Hi Dunstonh,

Countrywide wrote that the consultant was a tied agent of Pinnacle Insurance, although at the time I remember he told us that he was an independent financial advisor.

Basically it's my word against theirs and neither of us have any documents to prove otherwise,it's a pity that we don't take minutes at every meeting we attend with these organisations, maybe we should though.

I thoroughly been had by these people and I cannot do anything about it, I've just cancelled my policy with them although I find it hard to believe that as an exsisting customer they would have not kept any records on this.

Thanks again for the advice.
Delgerri

dunstonh

Countrywide wrote that the consultant was a tied agent of Pinnacle Insurance, although at the time I remember he told us that he was an independent financial advisor.

You would be surprised (or maybe not) that a survey was done a couple of years back and found that over half of people that saw tied agents thought they were seeing an IFA. Tied agents often give that impression and that is technically a mis-sale itself.