Hastings have cancelled my policy..help

losgiganteskid

None of this would have happened in Gerry Kendalls days !!

MarkyMarkD

I never disputed that Hastings were legally entitled to cancel a policy. All insurers are so entitled. So the FSA quote "Hastings decided to invoke a clause under the terms of the insurance policy which allowed it, legally, to cancel the policy subject to providing seven days' written notice of the cancellation to the customer." doesn't prove anything either way IMHO.

What I denied (and continue to deny) is Hastings' right to cancel without compensation but to demand compensation from customers if they cancel early.

The FSA notice draws a proper conclusion about the purpose of the cancellation clause from an insurer's point of view, i.e. that it's meant to be used where there is a genuine reason for them to cease providing cover (usually because some of the customer's circumstances have changed, rendering them an unacceptable risk to the insurer) rather than because the insurer set the premium wrong.

So, clarifying my position:

- obviously insurers should be able to cancel without compensation if the customer failed to disclose all information (the most common position); but
- the FSA don't think it's acceptable for insurers to use cancellation clauses which allow cancellation without compensation in cases where the customer has done nothing wrong.

I think the FSA and I are in agreement here.

I'm not being smug; I was just having some fun with raskazz to be honest. And I wasn't sad enough to have read the FSA Notice - but I have now! So thanks for bringing it to my saddo attention.

Oscar_The_Grouch

Welcome to the Saddo Club, Marky!! Pull up a chair and a scaldingly hot but flavourless coffee in a polystirine cup.

Next week we have all decided to wear our Noel Edmonds sweaters and it's raskazz's turn to make the fruit scones.

I think I need to get out more....