PPI and motor dealers

purdiepoodle

I was mis sold ppi by a motor dealer in May 2004 the policy ran until 2007, the insurers failed to pay out in 2006 due to alleged non-disclosure of medical condition. Since the policy was taken out over 6 years ago but was in operation in the last 6 years do I have a valid claim? there seems to be a sentence somewhere that motor dealers only came under FSA in 2005 therefore my claim is not valid , well that's what the dealer is telling me! anyone fought this?

di3004

purdiepoodle wrote: »

I was mis sold ppi by a motor dealer in May 2004 the policy ran until 2007, the insurers failed to pay out in 2006 due to alleged non-disclosure of medical condition. Since the policy was taken out over 6 years ago but was in operation in the last 6 years do I have a valid claim? there seems to be a sentence somewhere that motor dealers only came under FSA in 2005 therefore my claim is not valid , well that's what the dealer is telling me! anyone fought this?

Hi there

You could give it a go and if it fails, you could try the insurer/underwriter direction, because they did not pay out, so therefore the policy was a waste of time for you in this respect.

However, you could contact the FOS first, even though they would not be able to adjudicate against a business not regulated, the underwriter probably was, and its a direction the FOS normally suggests people in your situation to take.
So do not lose hope on this one yet, good luck.;)

purdiepoodle

Thanks for this, I spent a lot of time last night wading back through previous threads, so I know my first job on monday is to ring fos. When I wrote I sent letters to the original dealership, the dealership head office and the insurer who not surprisingly have pointed me back to the dealership, so am more than happy to take them on again!

di3004

purdiepoodle wrote: »

Thanks for this, I spent a lot of time last night wading back through previous threads, so I know my first job on monday is to ring fos. When I wrote I sent letters to the original dealership, the dealership head office and the insurer who not surprisingly have pointed me back to the dealership, so am more than happy to take them on again!

Good luck, its highly likely the FOS will suggest the underwriter/insurer avenue, please do keep us posted, fingers crossed.;)

magpiecottage

Who was the dealer?

purdiepoodle

The original dealer was Reg Vardy in Reading, now part of Pendragon

purdiepoodle

I have today spoken to FOS, they will be writing to AXA today on my behalf. I assumed (correctly) that their case is based on an agency agreement. Have been told to prepare for the 'nothing to do with us as we weren't involved in the sale' letter, but have been told simply to forward that letter to them when it arrives and they will continue their pursuit, will keep informed on progress.

magpiecottage

The dealer will have been responsible for the sale prior to 14 January 2005.

However, I am fairly sure that AXA subscribed to the GISC Code. This means that there is a possible complaint if the dealer did not. This is based on the fact that the Code would have prevented an insurer that subscribed from accepting business from an intermediary that did not. Your complaint would therefore be that, but for the breach of the Code by AXA, the policy would never have existed.

If, on the other hand, the dealer did subscribe then AXA is off the hook.

In that circumstance, the dealer would be subject to FOS jurisdiction if it subsequently came under it for anything else.

Pendragon Finance and Insurance Services Limited IS subject to FOS jurisdiction and is the same company as Reg Vardy (Financial Services) Limited. If IT sold the policy then FOS does have jurisdiction although you may need to provide evidence to FOS (it is company number 875460 - search for confirmation here).

On the other hand if it was sold by any other Reg Vardy group business FOS has no jurisdiction.

purdiepoodle

The more you dig the more complex it becomes! The lender for the loan to buy the car was GE Capital Woodchester.
According to the payment Protection Plan Policy schedule issued by Direct Creditor Administration,
supplier Reg Vardy
Policy type: Vardycare PPP Vardycare HP
Lender GE Capital Woodchester.
Insurers underneath this lot Axa
Talk about a maze I am totally confused, but still dont feel like letting anyone get away with it if i can help it!

sassyone19

hi anyone had ppi mis sold from ford credit?am umsure whether i have a claim.i had a hp lan with them in 2004 and they soldme pp on it which was nearly 20 pound a month over 4 years ,i did sign to say i understood the terms and conditions but i was not under the impression i could get this pp from elsewhere as it was the first as heard of it,i was also not told that i had a cooling off period if i wanted to cancell the plan i feel i was missold this pp ,does anyone know if i have a claim or have i left it too late?any advice welcomexi dont think they were fos registered,it says on my agreement the ppi was underwritten by norwich union

magpiecottage

HP arrangements are rather different to loans. Until the final payment is made, the lender owns the vehicle (or whatever else it is you are buying) - so it can make insurance a condition of the loan.

It is also under no obligation to tell you of other providers.