HSBC Insurance

[thefenz]

Has anyone had a claim with HSBC.

I have one serious claim with them that has gone pear shaped because of the Loss Adjusters. Want to hear if anyone else has had problems.

I have been to the FOS and now have to go to court as HSBC are playing games and not complying with the FOS adjudication which is in my favour.

[BADGER 69]

One thing you need to bear in mind is that Loss Adjusters are not independant. They look after the insurers interest not yours.


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[LemonTwist]

Originally Posted by BADGER 69

One thing you need to bear in mind is that Loss Adjusters are not independant. They look after the insurers interest not yours.


If you find this helpful, please click my scales.

This is not the way things are supposed to be, though. The loss adjusters' fees are always paid by the insurer, so in that sense, they can never be truly independent. However, they are still supposed to be impartial. Their aim should be to negotiate a settlement within the terms of the policy, which is fair to both the insurer and the insured.
They are not supposed to favour the insurer's interest over the policyholder's interest. If you think they have done so, then you should complain about them.

[Risky1]

What? Do they not deal with the claim on behalf of the insurance company and if warranted settle the claim within the limits and terms of the policy cover and conditions? If there is no cover they cannot settle it, If there is a policy breaxh they also cannot settle it?

[thefenz]

I was more than adequately insured but the Loss Adjuster under reserved the claim. When it came to increasing his figures, he decided to try and manipulate.

Internal papers from HSBC show that they were aware that he had lost control of this claim but they are all clamming up rather than addressing the complaint in hand.

Referred this to the FOS who have adjudicated in our favour but HSBC are now not complying.

Wonder if this is more personal because I have categotically accused them of being decietful or possible racism?

[LemonTwist]

Originally Posted by Risky1

What? Do they not deal with the claim on behalf of the insurance company and if warranted settle the claim within the limits and terms of the policy cover and conditions? If there is no cover they cannot settle it, If there is a policy breaxh they also cannot settle it?

Yes that is correct. What I meant was that a loss adjuster isn't allowed to unfairly favour the insurer when deciding whether to settle a claim - for example they mustn't unfairly reject a claim when it is covered by the policy.

[mooreda]

Hang on! If the Insurance Company are not following the decision of the FOS then you must advise the FOS straight away. The FOS decision is BINDING on the insurance company!