Insurance and consumer duty act 2023

J66998821

Hi

Please could anyone tell me how the consumer duty act applies to home insurance? Unfortunately we had to make 2 claims on our policy in the same year. Both were no fault claims, including a burglary. Our insurance company have said they will no longer insure us next year (although they haven’t treated this as a cancellation of our existing policy). Does the consumer duty act apply here? And what is the best way to go about making a complaint? Many thanks 

dunstonh

Insurance and consumer duty act 2023

It isn't an act of parliament and isn't specific to insurance.   It is an overarching guide to all regulated financial services companies.

Please could anyone tell me how the consumer duty act applies to home insurance?

The same as any other retail product and service.

Our insurance company have said they will no longer insure us next year (although they haven’t treated this as a cancellation of our existing policy). Does the consumer duty act apply here?

No it doesn't.    Providers are not forced to offer services if they do not wish to.

And what is the best way to go about making a complaint? 

Why would you complain?  If a provider is not offering a quote then it isn't something to complain about.

If you went to a comparison site and 80% of companies quote and 20% refuse, would you complain to each of the companies that refuse? - no.  So, no point doing it here.   Just move on to another company.

400ixl

Duplicate thread of https://forums.moneysavingexpert.com/discussion/6470897/insurance-and-consumer-duty-act-2023#latest