Tenetconnect - ifa professional indemnity insurance

Money_Talks_2

I made a claim against Paymentshield through Resolver and got a response within a week, claiming that the responsibility laid with the broker who sold me the MPPI policy.

My major complaint is that the amount my policy is for, does not equate to my actual mortgage payments, i.e. I have been over-insured.

Paymentshield advised that the complaint was being passed to the broker.

I have now received postage and a questionnaire from TENETCONNECT, who I have found to be a IFA PROFESSIONAL INDEMNITY INSURANCE company, i.e. not the original broker.

They are listed on the FCA register, but I don't know how to deal with them.

Are they just a front, gatekeepers or there to put claimants off?

They have also sent forms asking for my permission to "seek and receive personal information", "send my personal information" and "submit a Data Subject Access Request on my behalf".

Is this normal, should I comply with the forms or are they trying to gain info they are not entitled to?

Nasqueron

You complain to the person who sold you the policy, not the policy provider. The complaint has gone to the broker who has referred it to their insurer to look into.

Do note it is not somehow wrong to have a policy that covers a band of payments, including higher than your policy unless you were put on that product unnecessarily for the sake of profit

Depending on when it was taken out, you could expect the broker to have detailed paperwork showing you agreed to the level of cover and your signature confirming this was taken out with your consent.

Money_Talks_2

Thanks Nasqueron,

I get all that, but I'm more concerned with the 'carte blanche' forms they want me to sign.

The policy was taken out in Dec 2006, i.e. after the 2005 regulation.

The broker arranged the mortgage, so knew the level of cover was much higher than the mortgage payment.

dunstonh

My major complaint is that the amount my policy is for, does not equate to my actual mortgage payments, i.e. I have been over-insured.

Paymentshield had several versions over the years including one that was not directly linked to the mortgage. So, the amount of the mortgage didnt matter. Plus versions that allowed 125% of mortgage.

If yours was one that was linked to the mortgage then what matters is point of sale. Not after mortgage interest rates fell back.

I have now received postage and a questionnaire from TENETCONNECT, who I have found to be a IFA PROFESSIONAL INDEMNITY INSURANCE company, i.e. not the original broker.

That is not correct. Tenet are a network. Not a PI insurer. Although, like all regulated distribution channels they will have PI insurance behind the scenes.

Are they just a front, gatekeepers or there to put claimants off?

No. They are the responsible firm you bought from. They are the original "broker" (not that broker is the correct word). The firm you bought from would have been an appointed representative of Tenet. If you have any old letterheads or documents of the firm or look up the firm on the FCA register, you will see that Tenet would have been the principle firm.

They have also sent forms asking for my permission to "seek and receive personal information", "send my personal information" and "submit a Data Subject Access Request on my behalf".

Is this normal, should I comply with the forms or are they trying to gain info they are not entitled to?

Yes that is normal. If you dont comply then it will harm your chances of success. You would be asking them to assess your complaint but refusing for the details to be provided. Therefore they would not be able to answer your complaint.