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May I suggest if anyone going to make a complaint to the Underwriter/Insurer of the loan business, is to first try yourself before going to the Financial Ombudsman Service (FOS).
The FOS will usually suggest the Underwriter/Insurer direction if you have exhausted all reclaiming complaints with the broker, for example, if they were not FSA regulated at the time you taken out the loan etc, or if they are no longer active and your unable to go the Financial Compensation Scheme (FSCS) direction, for the same reason etc.
I note almost everyone who have gone to the FOS about the underwriter are being turned away after years of the claim being with them, and to be told they unable to establish a relationship.
What annoys me, they have the information of the underwriter and know they have some joint relationship with each other, and of course know that once the application is completed for finance, it's moved on to the underwriter/insurer for the final check, where the insurance side of it should also be a big part of it too, and to make sure it's suitable for the applicant or not. Yes it is down to the BROKER at the end of the day but if those avenues have failed because of them not being regulated, or no longer active etc.....
I am one of the lucky one's who made a successful reclaim against the underwriter/insurer, and hopefully you may stand a better chance of having a go yourself first before going to the FOS. See if you can succeed.
Wording is important, as they will not want to accept full responsibility, but as said above, because of all other avenues being a No-no, these have some liabilities of your account and its also possible they were regulated too.
I can try to help you :-)
The FOS will usually suggest the Underwriter/Insurer direction if you have exhausted all reclaiming complaints with the broker, for example, if they were not FSA regulated at the time you taken out the loan etc, or if they are no longer active and your unable to go the Financial Compensation Scheme (FSCS) direction, for the same reason etc.
I note almost everyone who have gone to the FOS about the underwriter are being turned away after years of the claim being with them, and to be told they unable to establish a relationship.
What annoys me, they have the information of the underwriter and know they have some joint relationship with each other, and of course know that once the application is completed for finance, it's moved on to the underwriter/insurer for the final check, where the insurance side of it should also be a big part of it too, and to make sure it's suitable for the applicant or not. Yes it is down to the BROKER at the end of the day but if those avenues have failed because of them not being regulated, or no longer active etc.....
I am one of the lucky one's who made a successful reclaim against the underwriter/insurer, and hopefully you may stand a better chance of having a go yourself first before going to the FOS. See if you can succeed.
Wording is important, as they will not want to accept full responsibility, but as said above, because of all other avenues being a No-no, these have some liabilities of your account and its also possible they were regulated too.
I can try to help you :-)
