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Welcome Finance PPI - Pre 2005 - Next Action Required?
thebadger75
Posts: 2 Newbie
Well complained to Welcome Finance for some old PPI policies and there response was:
Due to the date these policies were purchased, your complaint must be referred to the underwriters of your insurance for it to be considered.
This is because insurance sales were not fully regulated until 2005.Prior to this, Welcome Finance voluntarily joined the General Insurance Standards Council (GISC) on 27th February 2003. As these policies were sold to you before this date, the same applies.
I can confirm that the underwriter for your accounts was Aviva. I would request that any complaint be issued to Aviva as Welcome Finance is unable to investigate your complaint further.
With the above in mind, I regret to inform you that your complaint in relation to the above accounts is not in the jurisdiction of the FOS.
2 questions really:
1. Is this worth pursuing further?
2. Which course of action is best???
Advice would be most appreciated...
Due to the date these policies were purchased, your complaint must be referred to the underwriters of your insurance for it to be considered.
This is because insurance sales were not fully regulated until 2005.Prior to this, Welcome Finance voluntarily joined the General Insurance Standards Council (GISC) on 27th February 2003. As these policies were sold to you before this date, the same applies.
I can confirm that the underwriter for your accounts was Aviva. I would request that any complaint be issued to Aviva as Welcome Finance is unable to investigate your complaint further.
With the above in mind, I regret to inform you that your complaint in relation to the above accounts is not in the jurisdiction of the FOS.
2 questions really:
1. Is this worth pursuing further?
2. Which course of action is best???
Advice would be most appreciated...
0
Comments
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All you can do is try the underwriters, as they say, WF were not regulated at point of sale so do not have to consider complaints
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
Will try them then first - Thank you.0
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