Anybody made any progress with Audi Finance PPI Claims? Underwritten by Genworth.

WsDad

Hello everybody,

Has anybody ever made a successful claim on Audi Finance PPI underwritten by Genworth?

Audi/VW Finance refer to the underwriters and Genworth deny they sold the policy. The policy was sold by an Audi main dealer representative.

PPI was incorporated into a finance agreement with an Audi main dealer on the basis of cover for "Unemployment". I was an executive shareholder and employee of a small business registered as a limited company. Since the future of the company looked uncertain PPI cover was taken against the finance deal in the event of the company going bust over 47 monthly payments from October 2004.

Upon reviewing the agreement form the cover appears to extend to "Life, accident, sickness, critical illness and unemployment".

Details of the full extent of the cover were never explained and to the best of my knowledge the full policy documents have never been received. All I have is a 1 page pdf copy of the signed agreement form.

The basis of my challenge is based on the cover being mis-sold since the scope of the cover was well beyond requirements and therefore premiums loaded to an unnecessary extent reflecting this.

Thanks.

dunstonh

In most cases the dealer is liable for the sale. In some cases, the lender is responsible if the dealer was tied commercially to the lender in a sole arrangement. In rarer case, depending on dates and commercial arrangements, the underwriter is liable.

Car dealers were regulated from Jan 2005 and can reject pre-Jan 2005 complaints. In your case you are pre-regulation and totally reliant on it being one of those rare cases. At present neither the lender or the underwriter are accepting that liability.

As it is pre-regulation, the FOS cannot consider your complaint. However, they may check that the underwriter or lender do not have liability if you ask them.