 | Home > Off Topic > Car stickers : your not insured |
 
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932   
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http://www.fca.org.uk/firms/being-regulate...fines/2014
If you are unsure of their teeth ! At the moment their focus is elsewhere ( including my industry ) but I think in the fullness of time the insurance business will come under scrutiny and be found wanting. It still comes down to consumers being the whistle-blowers and complaining enough to make a case . |
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4th Feb 2015 10:12pm |
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| gilarion Member Since: 05 Dec 2013 Location: Wales Posts: 5115  
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Yes, I am aware of the FCA actions and their prosecution success, nevertheless as I posted their main concern appears to be with the banking industry and most of their successful court cases are with Banks that have been bailed out by the tax payer, and as yet no prosecution had led to any one being responsible for criminal action being jailed.
My point was that insurance companies are only regulated for solvency and not for bad practise for that you have to contact the ombudsman, who while often successful on sorting out individual claims from disgruntled customers, the powers that the division has is not concerned with unscrupulous practise on the whole. Setting up a list of good practise without a body to govern and oversee that those good practises are implemented and carried out then becomes a worthless exercise. The very fact that each and every insurance company tells you in a recorded message that it is governed by a regulatory body (which is not strictly factual) and warns you that your conversation is being recorded and that any untruths or withholding of any information may invalidate your insurance, immediately puts the customer at a disadvantage, (the case of stickers and decals in point). It is my opinion that insurance companies are a law unto themselves and until a code of good practise is drawn up and overseen by a regulatory body that only scrutinizes over insurance companies then things for the customer will not improve. For those who like Welsh Mountains and narrow boats have a look at my videos and photos at.. http://www.youtube.com/user/conwy1 |
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5th Feb 2015 12:29pm |
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