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Swinton Insurance - County Court Threat
Comments
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From what I have seen, its more likely that automatic renewal will become the mandatory norm rather than having an offer to renew which allows you to lapse without doing anything.
You know from past threads that I have said I dont like auto-renewal. However, it exists and its currently legal. More people benefit from it than lose out. We can only go on things as they currently stand. If the rules change in future we can adapt with them. Its how the rules stand now that matter.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
From what I have seen, its more likely that automatic renewal will become the mandatory norm rather than having an offer to renew which allows you to lapse without doing anything.
You know from past threads that I have said I dont like auto-renewal. However, it exists and its currently legal. More people benefit from it than lose out. We can only go on things as they currently stand. If the rules change in future we can adapt with them. Its how the rules stand now that matter.
I can't find any challenge, or ruling either way.
I agree it happens, and is mostly accepted, but I couldn't say it was legal, or illegal. Unless it is inertia selling, then it is now illegal.
If its mandatory, I'm sure current FSA guidelines will then include the response for the exact situation above, and others like it, such as auto-renewals being priced far in excess of negotiated renewals.
Until then, lets challenge it, and again, make the rulings that are required.0
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