Auto Aid and The Financial Ombudsman

Canarycretin

I took the Auto Aid Insurance. When I needed them they declined to help, saying they could find no policy for me. Later they admitted "operator error", but too late to help me. Their eventual offer in compensation was derisory. I referred the case to the Financial Ombudsman. They answered that  "the underwriter of your policy is not regulated by the Financial Conduct Authority, therefore is not covered by the Financial Ombudsman Service.You may wish to contact the Guernsey Financial Services Commission to see what options are available to you. "
It seems wrong that a product featured on a consumer protection site such as M.S.E.  should be one which is not subject to official scrutiny.

DullGreyGuy

That sounds like an error by Right Cover Insurance Brokers who are UK based 

If it is an error my Right Cover Insurance as the insurers instead then you have Channel Island Financial Ombudsman as the local alternative to the UK Financial Ombudsman. 

You get a 14 day cooling off period exactly for checking this kind of information which is fairly clear when you look at the two complaints sections in the policy books. Ultimately insurers setup in the Channel Islands or Gibraltar etc do have scrutiny but from their own regulators. They tend to be more cost effective jurisdictions to be in, it's up to you to decide where the balance between price and heavy regulation should be. This site has always been price not value focused.

SiliconChip

I think whoever you contacted at the FOS got it wrong, the AutoAid website footer says this:

"AutoAid Breakdown is arranged and administered by Right Choice Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority under reference no. 475620."

and RCIB do appear on the FCA register under that number, so they are regulated by the FCA and the FOS agent was wrong. There is a potential that the specific activity for AutoAid is not covered, but that's not the reason you were given, so you should go back to them for clarification.

https://register.fca.org.uk/s/firm?id=001b000000MfzoKAAR

molerat

1. About us
AutoAid Breakdown is arranged and administered by Right Choice Insurance Brokers Limited.

Right Choice Insurance Brokers Ltd (Registered in England, company number 06423401) of St James House, 27 – 43 Eastern Road, Romford, Essex RM1 3NH is authorised and regulated by the Financial Conduct Authority (registration number 475620).

12. If you have a complaint
We have a real commitment to customer care. We aim to be a company that puts the customer first.

If at any time you are unhappy with any aspect of our service, please telephone us on 0345 241 1359.

If we are unable to resolve your complaint by close of business on the third working day after receipt, an acknowledgement will be sent no later than 5 working days after receiving your complaint confirming who is dealing with the complaint and when we will expect to respond to you. Within 8 weeks of the date we receive a complaint we will provide you with our final decision.

If you remain dissatisfied you can refer your case to the Financial Ombudsman Service, Exchange Tower, Harbour Exchange, London E14 9SR, telephone 0800 023 4567. Email complaint.info@financial-ombudsman.or.uk. Website www.financial-ombudsman.org.uk. At any time, you can request a copy of our complaint’s procedures.

Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS. You may be entitled to compensation from the scheme if we are unable to meet our obligations. This depends on the type of business and the circumstances of the claim.

Further information about compensation scheme arrangements is available from the FSCS.

Did you complain about the correct entity ?

DullGreyGuy

SiliconChip said:

I think whoever you contacted at the FOS got it wrong, the AutoAid website footer says this:

"AutoAid Breakdown is arranged and administered by Right Choice Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority under reference no. 475620."

and RCIB do appear on the FCA register under that number, so they are regulated by the FCA and the FOS agent was wrong. There is a potential that the specific activity for AutoAid is not covered, but that's not the reason you were given, so you should go back to them for clarification.

https://register.fca.org.uk/s/firm?id=001b000000MfzoKAAR

It depends if the issue is with the administrators RCIB or the insurer RCI (the two are sister companies). It seems the FOS thinks its an insurer issue and so outside of their scope as the insurer is based in Guernsey and the policy book say complaints to it gets escalated to the CIFO not FOS

The Final Response letter received should state which of the two ombudsman it goes to