Swinton Cancellstion fee

zppp

Brize wrote: »

Oh dear. The term 'durable medium' is a regulatory construct. The FSA provide a definition, even going so far as to indicate that internet sites are excluded, unless the information is addressed personally to the recipient:

http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/D?definition=G1286

So would you like to point me to the section that states that cancellation terms cannot be placed on page 7 of terms and conditions?

By the way, you may or not be aware that insurance companies have regulatory teams that construct these policies, so you can quote out of the FSA handbook as much as you like. You're still wrong.

Brize

zppp wrote: »

So would you like to point me to the section that states that cancellation terms cannot be placed on page 7 of terms and conditions?

Do try and keep up.

If you read the second paragraph of the post to which you refer (#46), you'll note that I stated that as a personal belief, in contrast to the issue of providing the cancellation rights in a durable medium, which I posited as a regulatory matter.

Brize

zppp wrote: »

By the way, you may or not be aware that insurance companies have regulatory teams that construct these policies, so you can quote out of the FSA handbook as much as you like. You're still wrong.

Having worked in the general insurance industry since it fell under FSA regulation, I'm very aware that insurance companies have teams - sometimes whole departments - dedicated to regulatory compliance.

Unlike you, though, I don't therefore automatically assume that they always get it right.

zppp

Brize wrote: »

Do try and keep up.

If you read the second paragraph of the post to which you refer (#46), you'll note that I stated that as a personal belief, in contrast to the issue or providing the cancellation rights in a durable medium, which I posited as a regulatory issue.

So you have posted your own personal beliefs, (which are unsubstantiated) to highlight a regulatory issue, that is non-existent. :rotfl:

zppp

Brize wrote: »

Having worked in the general insurance industry since it fell under FSA regulation, I'm very aware that insurance companies have teams - sometimes whole departments - dedicated to regulatory compliance.

Unlike you, though, I don't therefore automatically assume that they always get it right.

Go on then, take it to them if you think they're wrong. How do you supply your insurance documents as a company - manuscript?

By the way, I haven't assumed they are automatically right on everything, however they are on this issue.

Brize

zppp wrote: »

So you have posted your own personal beliefs, (which are unsubstantiated) to highlight a regulatory issue, that is non-existent. :rotfl:

You need to read before you post.

zppp

Brize wrote: »

You need to read before you post.

I do, and am starting to get the feeling that I am feeding a troll.

Brize

zppp wrote: »

Go on then, take it to them if you think they're wrong.

It's not my fight - I'm simply trying to help someone in a tight spot rather than tell him that it's tough luck because he failed to read through six statutory documents before signing up to an insurance policy.

I feel sorry for the guy and I think he's got a case - should that really attract so much hostility?

zppp wrote: »

How do you supply your insurance documents as a company - manuscript?

I'm fortunate in that my company doesn't transact business online. We make our recommendations in writing - by letter or email - and enclose/attach the relevant insurer literature. We would also draw attention to any salient limitations or penalties, such as the early cancellation charge (not that it usually applies in our sector).

If I was asked to formulate a compliant system for online sales, my reading of the regulations would determine that the process be temporarily halted while the documents were emailed to the client, as outlined in post #44. Here, I'm mindful that PDF documents only constitute a durable medium if they form part of a communication that is personally addressed to the client.

zppp

Brize wrote: »

It's not my fight - I'm simply trying to help someone in a tight spot rather than tell him that it's tough luck because he failed to read through six statutory documents before signing up to an insurance policy.

I am sure you/your company would hold the same opinion if you sent somebody a set of terms and conditions, which they failed to read, and there was a clause stating a significant exclusion they weren't aware about, that triggered a complaint.

Brize wrote: »

I feel sorry for the guy and I think he's got a case - should that really attract so much hostility?

No-ones trying to be hostile here. They are giving their opinions, and highlighting the imprortance of reading through all of the terms and conditions of an account or product.

Brize wrote: »

I'm fortunate in that my company doesn't transact business online. We make our recommendations in writing - by letter or email - and enclose/attach the relevant insurer literature. We would also draw attention to any salient limitations or penalties, such as the early cancellation charge (not that it usually applies in our sector).

People don't take insurance out to cancel it. If they are looking to cancel it, they should check the relevant terms regarding cancellation prior to purchasing.

Brize wrote: »

If I was asked to formulate a compliant system for online sales, my reading of the regulations would determine that the process be temporarily halted while the documents were emailed to the client, as outlined in post #44. Here, I'm mindful that PDF documents only constitute a durable medium if they form part of a communication that is personally addressed to the client.

Your reading of the FSA handbook is an interpretation, a reading of how you view the regulations. Why not write to the FSA to ask for an explanation?

_Andy_

Well, at least this thread hasn't descended into argument.