Winterthur/Colonial Mutual misselling

bud-miser

I'm currently in the middle of my endowment misselling claim with Winterthur. I took out the policy originally with the now defunct Colonial Mutual Group back in the early '80s and they were subsequently bought out by Winterthur.

My experience with Messrs W has not been the best, with their not having paid any annual bonuses on the policy for a number of years.

I've received a stalling letter from them, saying that they need more time to investigate my claim.

Anyone got any experience of this company from the endowment misselling viewpoint? I'm aware they were lambasted and fined by the FSA some time back for their initial mishandling of claims or suchlike.

dunstonh

It is hard to blame Winterthur for the actions of CM. I wouldnt be surprised if they regret ever being involved with them given recent events.

They are entitled to keep you waiting as long as they keep communicating with you.

bud-miser

Blame? I don't recall using the word.

Perhaps you are trying to imply that Winterthur did not take on responsibility for the totality of CM's liabilities when they decided, presumably, that it was in their own, sweet, financial interest to snap up this Aussie morsel? That would concern me. Is there any possibility of this, then?

dunstonh

Blame? I don't recall using the word.

You said the following....

My experience with Messrs W has not been the best,

My response was to that.

Perhaps you are trying to imply that Winterthur did not take on responsibility for the totality of CM's liabilities when they decided, presumably, that it was in their own, sweet, financial interest to snap up this Aussie morsel? That would concern me. Is there any possibility of this, then?

I dont recall saying that.

bud-miser

It is tiresome to note that one or two people in these fora seem to have considerable difficulty in posting a straight, relevant reply to a straight honest question.

Can I AGAIN please ask for any comments from people with actual experience of Winterthur's handling of their missold endowment claims? Forewarned may be fore-armed.

vinno65

Hi Bud,
Dunstonh is sort of right in that they can keep you hanging on so long as they communcate with you, however (i am not short of the exact timescale) 8 weeks after you sent your complaint letter, if the complaint still hasn't been resolved you can refer it to the FOS,(this might gee them up a bit)
regards Vinno

bud-miser

Thanks for that, Vinno. It's a thought. I'm actually hoping to come across someone who's been through this with Winterthur before me. Maybe there's a 'Winterthur thread' somewhere out there on the net but, if so, I've yet to find it.

You feel on your own, if you know what I mean!

defender_of_the_weak

Bud

We deal with a lot of Winterthur complaints and generally, although they don't stick to timescales such as the 8 weeks they get there in the end and patience is rewarded. You should be aware that their mortgage questionnaire is deliberately loaded against consumers and they often 'interpret' answers to support rejection of a case. If the case is upheld, it can take 3-4 months to receive a calculation and offer of redress, yes I know its unfair, but unfortunately also within the rules from the regulator

bud-miser

defender_of_the_weak wrote:

Bud

We deal with a lot of Winterthur complaints and generally, although they don't stick to timescales such as the 8 weeks they get there in the end and patience is rewarded. You should be aware that their mortgage questionnaire is deliberately loaded against consumers and they often 'interpret' answers to support rejection of a case. If the case is upheld, it can take 3-4 months to receive a calculation and offer of redress, yes I know its unfair, but unfortunately also within the rules from the regulator

Useful info Defender. Much appreciated.

Indeed, I recall thinking that various parts of their questionnaire amounted to 'leading questions'. It surprises me that they can be allowed to get away with it... but then, as you've quite rightly stated and as I've been discovering on here lately, life is full of unfairness!

bud-miser

A result folks.

I sent them a doom-laden letter about my irritation with their delay in reponding and how I was considering approaching the ombudsman direct with a complaint regarding this.

A call this morning begged me not to follow the above course of action and informed me that, by the way, I was due compensation to the tune of £5k.

Life is full of surprises.

Looks like an overpayment will be coming Abbey's way...

Snapperjj

bud-miser wrote: »

I'm currently in the middle of my endowment misselling claim with Winterthur. I took out the policy originally with the now defunct Colonial Mutual Group back in the early '80s and they were subsequently bought out by Winterthur.

My experience with Messrs W has not been the best, with their not having paid any annual bonuses on the policy for a number of years.

I've received a stalling letter from them, saying that they need more time to investigate my claim.

Anyone got any experience of this company from the endowment misselling viewpoint? I'm aware they were lambasted and fined by the FSA some time back for their initial mishandling of claims or suchlike.

Hi

Re-Colonial and Winterthur

I was tricked out of an endowment for a pension endowment and it has been proved that Colonial had miss-sold the policy in their own communications and settlements had been put forward. However they eventually would not honour their proposed settlements.

The PIA gave incorrect evidence that they would not investigate the case but eventually did. They also found that the Colonial had miss-sold the policy. Because I was away on holiday when they sent a letter in reply to their resolve on the problem and I had not responded within a said small time limit. They were unable to enforce any form of judgement.

Winterthur has been no better and I have never been able to have any meaningful discussions on the matter with them. They won't be drawn or discuss the matter matter further but do say that they will investigate. However they seem to have a shortage of paperwork.

I wonder if Colonial concealed much of the problem when Winterthur took them over.

I have since spoken to the FOS on the matter and they are happy for me to lodge a complaint with them.

As I see it Winterthur took over Colonial and all their responsibilities and they have a responsibility of due care to customers. As they still have my money and they have not paid out a settlement the nature of my complaint is that they still have a responsibility of due care.

I therefore see this as a breach of contract on the grounds that they failed to payout a settlement.

This has taken the best part of twenty years so far.

I have never had a letter of final response and the FOS say they have to supply such a letter.

So That is what I am waiting for so I can lodge a fresh complaint with the FOS.

Feel free to message me if you are also having problems with Winterthur/Colonial because it would be nice to show that they are treating other customer the same way.