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  • FIRST POST
    • condoghost
    • By condoghost 4th Oct 19, 11:42 AM
    • 68Posts
    • 20Thanks
    condoghost
    FCA obligate firms to provide an online cancellation of auto renewal of an insurance policy.
    • #1
    • 4th Oct 19, 11:42 AM
    FCA obligate firms to provide an online cancellation of auto renewal of an insurance policy. 4th Oct 19 at 11:42 AM
    MoneySavingExpert Campaign FCA obligate firms to provide an online cancellation of auto renewal of an insurance policy.

    We can somewhat easily compare insurance online - building, contents, car and so forth.

    We can somewhat easily select and purchase a policy online.

    However, we have no online option to opt-out of auto-renewal at the time of opening the policy, and the vast majority of policies do not provide an online option for us to decline auto-renewal when we are notified it is time to renew.

    We are forced down a path of additional unnecessary expense - time, effort and money - calling the company to cancel auto renewal or writing to the company to cancel auto-renewal. We are not provided with an online option to cancel auto renewal.

    Steve White Chief Executive British Insurance Brokers' Association 11 May 2018 "Whilst auto-renewal is a convenient and helpful tool for some customers, clearly it should not be harder to cancel a policy than to incept one. This is a problem that needs to be addressed by both brokers and insurers. I will pass this matter to our Insurance Brokers' Standards Committee and ask them to build up some guidance for our member brokers. Thank you very much for bringing this matter to my attention."

    Huw Evans Director General Association of British Insurers (ABI) 6 June 2018 "I will include your concerns as part of the customer feedback we regularly share with our industry executives. As you are aware there is no FCA obligation on firms to provide an online cancellation for a policy with an automatic renewal. I suggest you also write to the FCA to raise your concerns with them and I will flag this to member firms as well."

    I am requesting a MoneySavingExpert Campaign for the FCA to obligate firms to provide an online cancellation of auto renewal of an insurance policy - for us to no longer be faced with the inconvenience and additional cost of having to telephone or write to the company to cancel auto.

    It should not be costing us more time, effort and money to cancel a policy than it did to open it in the first place.

    MONEYSAVINGEXPERT - PLEASE TAKE UP THE BANNER AND FIGHT THIS ON OUR BEHALF

    Provide us a link and we will sign a MoneySavingExpert Petition to get this sorted once and for all.

    Thank-you!

    Last edited by condoghost; 04-10-2019 at 11:55 AM.
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  • archived user
    • #2
    • 9th Oct 19, 5:51 PM
    • #2
    • 9th Oct 19, 5:51 PM
    It was my understanding that you could request a non-auto renewal when you purchase a product over the phone. The FCA doesn't take kindly to any obstacle placed before someone who wishes to cancel but I wouldn't consider a phone call an obstacle.
    • LABMAN
    • By LABMAN 10th Oct 19, 1:42 PM
    • 1,205 Posts
    • 2,095 Thanks
    LABMAN
    • #3
    • 10th Oct 19, 1:42 PM
    • #3
    • 10th Oct 19, 1:42 PM
    It was my understanding that you could request a non-auto renewal when you purchase a product over the phone. The FCA doesn't take kindly to any obstacle placed before someone who wishes to cancel but I wouldn't consider a phone call an obstacle.
    Originally posted by Max Moaner


    It is for me as I'm as deaf as a post. If I take out insurance online I would like there to be an online option to cancel autorenewal.
    • boo_star
    • By boo_star 11th Oct 19, 4:58 AM
    • 2,673 Posts
    • 1,997 Thanks
    boo_star
    • #4
    • 11th Oct 19, 4:58 AM
    • #4
    • 11th Oct 19, 4:58 AM
    It is for me as I'm as deaf as a post. If I take out insurance online I would like there to be an online option to cancel autorenewal.
    Originally posted by LABMAN
    Frankly this should be the case for everything.

    If they're happy to take your money by a certain method, they should be happy to let you cancel by it too.
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