Lloyds TSB Pet Insurance Withdrawn

Ddubya

Yeah, thanks vaio.

I was really just seeking reasurance from any people on here that have more knowledge on these matters than I do that I wouldn't be totally wasting my time if I were to try and pursue this on behalf of my parents. I think it its probably worth a shot at least, you never know!

Thanks!

oscarward

Might be too late for you Ddubya, but as a recomendation to others, our dog (Oscar Ward!) is insured with the Kennel Club from the date of purchase, who have been excellent.

He was diagnosed with epilepsy at 10 months and has had treatment ever since, which is managing his condition OK.

david39

There was another question on exactly the same subject recently :

https://forums.moneysavingexpert.com/discussion/3507585

and I think that Lloyds and Halifax would be covered by the same underwriters.

jonesMUFCforever

Ddubya wrote: »

mmm... not what I was expecting, with the exception of Oscarward, what a bunch of ill informed replies! I was expecting better from the money saving expert community!

I was under the impression that most people regarded pet insurance as being rather overpriced for what the majority of pet owners actually get back from it, and it is only in rare cases like my parents where an ongoing treatment is required that people are ever likely to see a return on the sums outlayed.

If this was the case and insurers were making money out of these policies then why are they pulling out of this market?
Nobody has a right to insurance by any company and as they have been given notice that the policy will cease there is not a lot they can do unless they can find another insurer.

vaio

all very true unless the punter was sold a policy complete with "enhanced" premium that guaranteed cover for the life time of the pet, which if you read the link above is what is being argued in this case

dacouch

What people might find helpful, is that you can buy pet presciption medicines on the tinternet for a fraction of what the vet charges, it's possible to give the company the vets prescription details and realistically save around 70%. This may help some of the people hit by the withdrawal by these companies.

eg http://www.petmeds.co.uk/

Estellecath

Thanks for the link to the Telegraph article. I am in a similar position to your parents, have a so-called "lifetime" policy with Lloyds and have a nearly 10 year old German Shepherd with conditions which no other insurer will now touch. It is also with great regret that I have read the ill-informed, ignorant replies from other members of this site (I have only joined because of this issue). Pet insurance is something we have paid for in good faith, as we do home insurance. I wonder if all these idiots would feel the same if their home insurers withdrew from the market and then they found they were uninsurable because they had previously made a claim??? I think not! (Incidentally because of previous claims my premiums for my dog are far higher than either my home or car insurance!). I'm sure they would also not give an elderly relative with diabetes the "lethal injection" if the NHS refused to fund treatment - no - they would be all over this and many other forums like a poisonous rash. Anyway, it would seem that there may be a good case to take this to the Financial Services Ombudsman. Please advise your parents to first make a formal complaint to Lloyds, they should stress the distress and inconvenience that this is causing them, both financially and emotionally, and then if they fail to get a satisfactory response, they should take it to the Ombudsman. Lloyds have laid a lot of money aside for those who have claimed that they have been mis-sold payment protection insurance - it seems some of us have been mis-sold pet insurance too. Good luck!

oscarward

Estellecath wrote: »

as we do home insurance. I wonder if all these idiots would feel the same if their home insurers withdrew from the market and then they found they were uninsurable because they had previously made a claim???

To be fair there are a number of houses which insurers won't insure for flooding due to previous incidents, or car insurance with a history of accidents?

Insurance is a business which is run for the benefit of the company shareholders, not the policyholders despite what the marketing may imply. So if they are losing money then they will not do it any more.

Estellecath

No, Oscarward, but the point is that Lloyds are not withdrawing from the house or car insurance market, and therefore are not leaving those customers unable to find insurance at all......!

Riablo

I am truly shocked at the downright horrible and uninformed responses given here...if a pet has ongoing treatment that costs too much then have it put down that really is putting money saving above not only duty to a pet you have undertaken to care for but also morally is a disgusting attitude.

The OP is asking a valid question about insurance that may or may not have been miss sold. To me this is no different than claims against bank charges or miss sold PPI, only it deals with the wellbeing of living animals so IMO more significant.

Thanks for the link to the Telegraph article. I too am in the position of having paid more a 'lifetime' cover policy and then being told that Halifax are withdrawing from the market. I do not feel that it was made clear that they could withdraw cover at anytime, I paid extra for a lifetime service and am now left with a big void as no other insurance company will cover existing conditions.

I spoke with Halifax today and have been told that BDML will be offering me a new quote under the brand Petwise...but they also told me that BDML are part of/linked with Halifax and operate from the same address and are underwritten by the same company? (she was a little hazy about the details) I asked if it was some kind of scam and to me it appears to be...stop offering cover and wind part of one company only to create a new subsidiary offering 'new' policies to previous customers. Sounds like an effective way of getting out of paying the lifetime claims that we were promised initially.

I will certainly be appealing to the ombudsman and would love to hear how are others are getting on in this regard (by PM if not on the forum).