Aviva

SallyG

http://www.dailymail.co.uk/money/news/article-2554472/Four-million-savers-short-changed-Aviva-compensation-Insurers-323million-bill-merger-blunder.html

"Initially, 196 errors with products were investigated. As of April last year, this had ballooned to 358. And the mistakes are so complicated that it could take another decade to correct them all.
The errors were reported to the Financial Services Authority regulator in 2007. But astonishingly, they never made an announcement to consumers – or Aviva’s shareholders – and instead simply allowed the firm to sort out the issues behind closed doors."

johnpr98

The Independent published this on Christmas eve
independent.co.uk/news/business/news/aviva-sets-aside-100m-for-clients-compensation-claims-9023356.htm

My CGU=Aviva endowment was paid out this time last year, I doubt I will have any compensation for my shortfall.

What annoyed me at the time was that Aviva had spare money to sponsor NT live in the cinemas.

Maybe the rep on these boards could comment?

Sorry, I'm not allowed to post the full url

bettyboon

If it's so complicated how are we supposed to work out if we've been short changed or not? We had endowment with Aviva, previously CGU, previously Provident Mutual, it ended several years ago with a shortfall. Any advice appreciated as we are now retired and can't wait ten years for them to sort it out.

johnpr98

Aha! this is been discussed on another thread!
https://forums.moneysavingexpert.com/discussion/4891846

johnpr98

I'll believe it when I see it
http://www.dailymail.co.uk/money/pensions/article-2559365/Aviva-promises-repay-life-pension-customers-hit-errors-2015.html

Colthinks

It seems strange that a company which finds it has short-changed customers is allowed to conceal from those customers the products involved. It is patronising indeed for Aviva to hold information which should properly be in the domain of potential claimants. It beggars belief that the FCA allows this situation to pertain. Just who is the FCA protecting? Big business or the customer?
Like so many others I had Endowments (now matured 2011) taken out many years ago with Norwich Union and subsumed into the books of Aviva which were flagged up as under-performing leading to a short-fall. So we have Aviva failing to manage investments, discovering errors in calculations made at the point of their various acquisitions of other insurers and now being allowed by those who should be protecting customers to keep us in the dark while it creeps its way through its records. Unbelievable and unforgivable.:mad:

vvvvvvvvvvvvvvvv

So how will aviva get in touch with a policholder who has already surrendered their policy and since moved address?

dunstonh

vvvvvvvvvvvvvvvv wrote: »

So how will aviva get in touch with a policholder who has already surrendered their policy and since moved address?

They will almost certainly employ a tracking company near the end of the process to pick up those that cannot be found

tony4147

How can we be certain that Aviva are actually looking at every policy? Who is policing this?

bettyboon

vvvvvvvvvvvvvvvv wrote: »

So how will aviva get in touch with a policholder who has already surrendered their policy and since moved address?

We are in this position so we telephoned Aviva customer services and they have updated their records with our new address. They didn't tell us if we are affected or not, but at least they know where we are.