Who are Sesame?

sharpay

I have made a PPI claim application to an Independent financial advisor which was declined & Sesame have contacted me asking for further info. Do i have to reply or can i submit to the Ombudsman directly?
Unfortunately, I was verbally advised by the IFA to obtain PPI cover for my mortgage. I am told by the IFA i ticked a box for PPI on a form so therefore that was my choice. I have no access to this form. I had no discussion with the Building society who provided the cover. At the time i had NHS employers redundancy/sickness cover, savings & life/critical injury insurance.
Thank you for any guidence.

dunstonh

I have made a PPI claim application to an Independent financial advisor which was declined & Sesame have contacted me asking for further info. Do i have to reply or can i submit to the Ombudsman directly?

Did Sesame decline or ask you for further info?

I had no discussion with the Building society who provided the cover.

You wouldnt do.

At the time i had NHS employers redundancy/sickness cover, savings & life/critical injury insurance.

Life assurance and CI cover doesnt overlap with MPPI. Savings can potentially be an issue but you typically need more than 12 months income as a savings amount for it to be a consideration. Most MPPI pays out in addition to NHS benefits. So, that wouldnt be an issue either.

Who are Sesame?

A compliance company for IFAs.

There is a lot working against you with your complaint.
1 - its against an IFA. Adviser complaints on PPI are tiny. Just 0.2% of complaints about PPI at the FOS are adviser complaints.
2 - IFAs account for 1% of complaints in total at the FOS despite being the dominant distribution channel. Most of these complaints are not overturned by the FOS. Indeed, just in November the FOS commended IFAs for their complaint handling and file/records. Unlike banks, the individual IFA is responsible for their advice. So record keeping does tend to be much better and audit trails are usually very good. Indeed, many claims companies dont even bother attempting to put in complaints once they know its an IFA.
3 - MPPI has the lowest success rate of any type of PPI. It is generally regarded as the one PPI that is worth having.
4 - your complaint reason is an unprovable allegation. You wouldnt expect success on this.
5 - Sesame dont have to consider MPPI complaints from sales made before Jan 2005. you dont say when yours was sold but that could be a potential issue.

So, you can see that you are complaining about the sale of the less successful complained about PPI put in place but the least success distribution channel for complaining about and your complaint reason is about as weak as you can get.

sharpay

Thank you. Sesame asked for further info. PPI obtained 2001.
Sorry if this Thread appears twice, as you can see I am new & submitted 2!

dunstonh

PPI obtained 2001.

Sesame can just reject the complaint as being pre-regulation and you wont have access to the FOS.

This looks like game over.

sharpay

Thank you, not the answer i hoped for, but always best to be realistic!