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doolally lady

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Posts posted by doolally lady

  1. I'm going after them for PPI on a credit card, PPI taken out in 1999 and cancelled in 2004. Had my big fat 'no chance' final response from them and although I am quite willing to take them to court, I phoned the FOS to find out if they would look at my claim and they have agreed to do so. It would be worth you giving the FOS a call and asking them, you still have the option of going to court, either if they are unable to help or if you don't get the result from them that you are entitled to. Good luck in whichever way you are able to go.

    The one thing that the FOS told me was that even if they are unable to look into your claim they can still take your complaint against the supplier. It would be well worth everyone complaining to them even if they have to use the court route.

     

    Regards,

    Doolally.

  2. Can anyone kindly point me in the direction for the templates for any Letter Before Action (LBA) as I have a feeling that I may need one shortly. Also, is this the letter that is sent after the Final Response letter is received when there is no recourse to the FOS.

    Thank you for any and all help advice and pointers that I will receive.

    (Any extra advice that you think I may need before going down this route would be gratefully received as this is not doing my ulcers any good, lol)

     

    Regards,

     

    Doolally

  3. you might find this of some help:

     

    The Limitation Act 1980 states:

    © the action is for relief from the consequences of a mistake;

    the period of limitation shall not begin to run until the plaintiff has discovered the fraud, concealment or mistake (as the case may be) or could with reasonable diligence have discovered it.

    References in this subsection to the defendant include references to the defendant's agent and to any person through whom the defendant claims and his agent.

     

    This means that the time runs from when you found out.

  4. Lloyds TSB appears to make a bit of a habit for getting itself fined.

     

     

    They were fined for mis-selling bonds in Sept '03. (Scottish Widows)

    Lloyds TSB was yesterday handed the largest ever fine -£1.9m - levied by the financial services authority for misselling financial products and was left with a bill of at least £98m to compensate customers who were incorrectly sold high risk bonds. (Sept '03)

     

    Abbey Life, an insurance unit of Lloyds TSB bank, has been fined a record £1m for mis-selling endowment mortgages. (December '02)

     

    IMRO today (Jan 1999) announced that it has fined Lloyds TSB Unit Trust Managers Limited ("Lloyds TSB") £425,000.

    Lloyds TSB has agreed to a settlement of disciplinary proceedings because it breached the IMRO Rules and Statements of Principle. The breaches occurred between November 1993 and November 1998.

     

    IMRO has today (1999) announced that it has fined Lloyds TSB Bank plc £100,000 for breaches of regulatory rules in its Securities Services Division. The breaches concerned failures in the completion of customer asset reconciliations and the organisation and control of its custody

    business. These problems occurred between 1 June 1997 and 31 December 1998.

     

    Lloyds TSB were regulated by IMRO from 19th April, 1988. It appears that all IMRO members came under the FSA when that came into force (1st. Dec 2001). LTSB came under the FSA 1/12/2001.

    Unfortunately I can't find what the IMRO rules and regulations were, YET!!!

     

    Seems it's not just in this country that LTSB are facing fines,

     

    WASHINGTON, DC - US prosecutors have charged Lloyds TSB and the Bank of Cyprus with money laundering offences. (November '07)

  5. I'm sorry if this has been covered elsewhere but I think (hope) this may be of use to some claimers. There were a few items in this that were of particular interest to me, these were 5.1, 5.9, ICOB 4.3.1R, 4.3.2R (1) (3), 4.3.6R (1) (3), and 5.5.1R.

    I apologise in advance for the length of the post but I don't know how to do attachments or links. :oops:

     

     

    .ExternalClass .EC_hmmessage P{padding:0px;}.ExternalClass EC_body.hmmessage{font-size:10pt;font-family:Tahoma;}5. BREACHES OF THE FSA'S PRINCIPLES FOR BUSINESSES AND RULES

    Principle 9

    5.1 Principle 9 (suitability) provides that:

    A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgement.

     

    5.2 In considering the standards required under this Principle, the FSA also has considered the specific requirements set out in the part of the FSA Handbook (the Handbook) entitled Insurance: Conduct of Business (ICOB).

    5.9 Firms selling PPI must have adequate processes in place to ensure suitable and compliant sales.

    5.15 Principle 3 (Management & Control) provides that: A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.

     

    THE PRINCIPLES

    Principle 3 – A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.

     

    Principle 9

    – A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment.

    THE RULES

    Senior Management Arrangements, Systems and Controls

    SYSC 3.2.6R Systems and controls in relation to compliance, financial crime and money laundering

    A firm must take reasonable care to establish and maintain effective systems and controls for compliance with applicable requirements and standards under the regulatory system and for countering the risk that the firm might be used to further financial crime.

    SYSC 3.2.20R Records

    (1) A must take reasonable care to make and retain adequate records of matters and dealings (including accounting records) which are the subject of requirements and standards under the . firmregulatory system

    (2) Subject to (3) and to any other record-keeping in the , the records required by (1) or by such other must be capable of being reproduced in the English language on paper. ruleHandbookrule

    (3) If a records relate to business carried on from an establishment in a country or territory outside the , an official language of that country or territory may be used instead of the English language as required by (2).firm'sUnited Kingdom

    Insurance: Conduct of Business

    ICOB 4.3.1R Requirement for suitability

    (1) An insurance intermediary must take reasonable steps to ensure that, if in the course of insurance mediation activities it makes any personal recommendation to a customer to buy or

    sell a non-investment insurance contract, the personal recommendation is suitable for the customer's demands and needs at the time the personal recommendation is made.

    (2) The personal recommendation in (1) must be based on the scope of the service disclosed in accordance with ICOB 4.2.8 R(6).

    (3) An insurance intermediary may make a personal recommendation of a non-investment insurance contract that does not meet all of the customer's demands and needs, provided that:

    (a) there is no non-investment insurance contract within the insurance intermediary's scope, as determined by ICOB 4.2.8 R(6), that meets all of the customer's demands and needs; and

    (b) the insurance intermediary identifies to the customer, at the point at which the personal recommendation is made, the demands and needs that are not met by the contract that it personally recommends.

    ICOB 4.3.2R Information about the customer's demands and needs

    In assessing the customer's demands and needs, the insurance intermediary must:

    (1) seek such information about the customer's circumstances and objectives as might reasonably be expected to be relevant in enabling the insurance intermediary to identify the customer's requirements. This must include any facts that would affect the type of insurance recommended, such as any relevant existing insurance;

    (2) have regard to any relevant details about the customer that are readily available and

    accessible to the insurance intermediary, for example, in respect of other contracts of insurance on which the insurance intermediary has provided advice or information; and

    (3) explain to the customer his duty to disclose all circumstances material to the insurance and the consequences of any failure to make such a disclosure, both before the non-investment insurance contract commences and throughout the duration of the contract; and take account of the information that the customer discloses.

    ICOB 4.3.5R Information about the customer's demands and needs

    If the insurance intermediary is aware that the customer's existing insurance cover is likely to significantly affect the suitability of any personal recommendation that the insurance intermediary might make, the insurance intermediary must either:

    (1) not make a personal recommendation until details of the insurance cover are made available to him; or

    (2) if it makes a personal recommendation, make clear to the customer that this may not be suitable because the insurance intermediary has not taken into account full details of the existing insurance cover.

     

    ICOB 4.3.6R Assessing the suitability of a contract against the customer's demands and needs

     

    In assessing whether a non-investment insurance contract is suitable to meet a customer's demands and needs, an insurance intermediary must take into account at least the following matters:

    (1) whether the level of cover is sufficient for the risks that the customer wishes to insure;

    (2) the cost of the contract, where this is relevant to the customer's demands and needs; and

    (3) the relevance of any exclusions, excesses, limitations or conditions in the contract.

    ICOB 4.4.1R SODAN

    (1) Unless ICOB 4.4.2 R applies, where an insurance intermediary arranges for a customer to enter into a non-investment insurance contract (including at renewal), it must, before the conclusion of that contract, provide the customer with a statement that:

    (a) sets out the customer's demands and needs;

    (b) confirms whether or not the insurance intermediary has personally recommended that contract; and

    © where a personal recommendation has been made, explains the reasons for personally recommending that contract.

     

    ICOB 4.4.1R SODAN

    (1) Unless ICOB 4.4.2 R applies, where an insurance intermediary arranges for a customer to enter into a non-investment insurance contract (including at renewal), it must, before the conclusion of that contract, provide the customer with a statement that:

    (a) sets out the customer's demands and needs;

    (b) confirms whether or not the insurance intermediary has personally recommended that contract; and

    © where a personal recommendation has been made, explains the reasons for personally recommending that contract.

    (2) The statement in (1) must reflect the complexity of the contract of insurance proposed.

    (3) Unless (4) applies, the statement in (1) must be provided in a durable medium.

    (4) An insurance intermediary may provide the statement in (1) orally if:

    (a) the customer requests it; or

    (b) the customer requires immediate cover;

    but in both cases the insurance intermediary must provide the information in (1) immediately after the conclusion of the contract, in a durable medium.

     

    ICOB 4.4.7R Record keeping where a personal recommendation is made

    (1) An insurance intermediary that makes a personal recommendation to a customer must, if the customer acts on the personal recommendation by concluding the non-investment insurance contract with that insurance intermediary:

     

    (a) unless ICOB 4.4.2 R(1)(b) applies, retain a copy of the statement required by ICOB 4.4.1 R(1); or

    (b) if ICOB 4.4.2 R(1)(b) applies, make and retain, in a durable medium, a record of the reasons for the personal recommendation

    (2) Both the copy of the statement in (1)(a) and the record in (1)(b) must be retained for a minimum period of three years from the date on which the personal recommendation was made.

     

    • Haha 1
  6. I hope this is not too long, but I came across this and thought it may be useful:

     

    lloydstsb.com/media/lloydstsb2004/pdfs/ppc_summary_appendix_1.pdf

    ( I added this because there is a table on the page that has not copied properly)

     

    A quick guide to

    Payment Protection Cover

    1 Payment Protection

    Lloyds TSB Payment Protection

    Cover policy summary

    This is a summary of the policy and does not contain the full terms and conditions

    of the cover which can be found in the policy document. It is important that you

    read the policy carefully.

    What is Payment Protection Cover insurance?

    Payment Protection Cover insurance, which is optional and not a condition of taking out

    a credit card, may enable you to meet your monthly credit card repayment in the event of

    your unemployment (this includes cover in the event that you need to become a carer

    for an immediate member of your family), accident or sickness. It may also provide you

    with life cover and hospitalisation cover.

    Who are the insurers?

    The insurers of this policy trade as Norwich Union and are:

    • London & Edinburgh Insurance Company Limited for accident or sickness, unemployment

    (including carer) and hospitalisation cover.

    • Norwich Union Life & Pensions Limited for life cover.

    Are you eligible for Payment Protection Cover insurance?

    You are eligible if on the date that you open your credit card account you:

    • are aged 18 or over but under 75.

    • live in the United Kingdom, the Channel Islands or the Isle of Man, and

    • are the first named holder of a credit card account.

    Policy summary

    What are the significant features and benefits of Payment Protection Cover insurance?

    • This policy will pay a monthly benefit equal to 5% of your outstanding balance on your

    Lloyds TSB credit card account. The outstanding balance will be the amount you owe

    on your account (less any arrears) on the date you are unable to work due to accident

    or sickness, or the date you are first aware of unemployment or you know you will have

    to become a carer or the date you know that you are going into hospital. If you die,

    it will repay your outstanding balance.

    The benefit you will receive if you make a claim will depend on your age, whether you are

    working or not and, if you are, how many hours per week you work. The table below

    summarises your cover in different situations.

    *Please note – The policy is designed to provide unemployment cover to customers who are employed on a

    permanent basis for 16 hours or more per week. However there are some additional circumstances where

    we will provide unemployment cover.

    If you are self-employed or work on a fixed-term contract you should read the policy to make sure it is

    suitable for your needs – you should pay particular attention to the ‘Employment Circumstances’,

    Unemployment Cover’ and ‘Things to Keep in Mind When Claiming’ sections.

    What happens if my circumstances change?

    Your eligibility for cover under this policy may change if your circumstances change,

    for example if you retire from work, voluntarily reduce your hours to less than 16 per week

    or leave the UK to live abroad. If this happens or is likely to happen you should discuss

    this with us on 01903 230599. Lines are open 8am to 6pm Monday to Friday and

    9am to 12.30pm on Saturdays.

    Payment Protection

    Payment Protection 2

    Unemployment

    (including carer)

    cover

    Positive Job

    Solutions

    Accident or

    Sickness cover

    Hospitalisation

    cover

    Life cover

    7 3 7 3 3

    7 3 3 7 3

    If at time of claim you are:

    Aged 18-64 and work for

    16 hours or more per week*

    Aged 18-64 and work less

    than 16 hours per week

    Aged 65 but under age 75,

    or under 65 and do not work

    The first named additional

    cardholder aged under 65

    3 3 3 7 3

    7 7 7 7 3

    Payment Protection

    Summary of benefits and features

    Accident or Sickness cover or Unemployment (including Carer) cover

    If you are unable to work because of an accident or sickness, are unemployed or need to

    become a carer for an immediate member of your family for more than 15 days in a row:

    • We will then pay one monthly benefit.

    • If you continue to be off work for a further 45 days, we will then pay another monthly

    benefit.

    • Further monthly benefits will be made for every further full month you are unable to

    work for up to 11 monthly benefit payments.

    • A 12th and final payment will be made if you remain unable to work for a further full

    month after your 11th payment. This payment will be equal to the remainder of your

    outstanding balance on the date you were unable to work due to accident or sickness

    or the date you knew you would become unemployed or would become a carer.

    Life cover

    If you die we will pay the outstanding balance at the date of your death up to a maximum

    of £20,000 for each of your accounts insured by us. This cover is also provided for the

    first named additional cardholder provided they are aged 18 years or over and under 65

    throughout the term of your policy and they live in the UK.

    Hospitalisation cover

    If you are in hospital for more than 5 days in a row:

    • We will then pay one monthly benefit.

    • Further monthly benefits will be made for every further full month you remain

    in hospital for up to 11 monthly benefit payments.

    • A 12th and final payment will be made if you remain in hospital for a further full

    month after your 11th payment. This payment will be equal to the remainder of

    your outstanding balance on the date you knew you were going into hospital.

    Positive Job Solutions

    You, and any member of your family who lives with you, will have access to a

    confidential and independent telephone advice service to help you return to work.

    This service is arranged by Lloyds TSB Insurance and provided by PMA Limited.

    Back to Work

    You will also receive details of our ‘Back to Work’ service if you are off work due to

    an accident or sickness. This provides independent confidential advice and guidance to

    help you return to work.

    3 Payment Protection

    Payment Protection

    Self-employed workers

    If you are self-employed you will be entitled to claim for unemployment if you have

    involuntarily ceased trading because you could not find enough work to meet all your

    reasonable business and living expenses and have declared this to HM Revenue

    and Customs.

    Payment in lieu of notice

    If you receive payment in lieu of notice, your unemployment claim will start when you have

    registered as unemployed after the date your notice period ends.

    What am I not covered for?

    The policy excludes some situations. These generally involve anything you already know

    about or that is caused by illegal or deliberate acts on your part. You need to check the

    ‘Life’, ‘Accident or Sickness’, ‘Unemployment (including Carer)’ and ‘Hospitalisation’

    sections of the policy for full details of what is and is not covered. The main exclusions

    are shown here:

    We will not cover accident or sickness claims which result from:

    • a medical condition, and/or associated symptoms, whether diagnosed or not:

    – which you know about when cover starts or you have seen a doctor about in the

    12 months before taking out this policy; and

    – which persists or returns during the first 12 months of your policy

    • pregnancy or childbirth unless there have been medical complications.

    Please refer to your policy document for a full list of exclusions.

    We will not cover unemployment claims:

    • If you know about the unemployment at the start of the policy.

    • Which you are notified of, or which happens, within the first 90 days of the policy.

    • If you have resigned, retired, taken voluntary redundancy or been dismissed for

    misconduct.

    • After the end of a fixed-term contract unless you have either been employed by the same

    firm for at least 24 months, are on a contract of at least 12 months which has been

    renewed at least once with the same employer or you were originally employed on a

    permanent basis but were transferred to a fixed-term contract by the same employer

    without a break in employment.

    Note – You will need to register for a Jobseeker’s Agreement in order to be able to

    make an unemployment claim.

    Please refer to your policy document for a full list of exclusions.

    Payment Protection 4

    5 Payment Protection

    We will not cover carer claims:

    • Unless you are in receipt of (or awaiting) a Carer’s Allowance,

    • If you know that a member of your immediate family would require a carer at the

    start of the policy, or

    • If you apply for a Carer’s Allowance or are notified of receipt of a Carer’s Allowance

    within the first 90 days of the policy.

    Please refer to your policy document for a full list of exclusions.

    We will not cover hospitalisation claims which result from:

    • a medical condition, and/or associated symptoms, whether diagnosed or not:

    – which you know about when cover starts or you have seen a doctor about in the

    12 months before taking out this policy; and

    – which persists or returns during the first 12 months of your policy

    • pregnancy or childbirth unless there have been medical complications

    • cosmetic surgery unless medically necessary e.g. reconstructive

    • being in a convalescent, nursing or rest home, or similar section of hospital.

    Please refer to your policy document for a full list of exclusions.

    How long does my Payment Protection Cover insurance run for?

    Your cover will continue as long as you have a credit card account and you continue

    to pay your monthly premium on time but it will end when you reach age 65 for

    accident, sickness or unemployment (including carer) cover, and for life and

    hospitalisation cover when you reach age 75 or when your credit card account is

    closed. The policy is designed to cover the outstanding balance on your credit card

    so you do not need to review your level of cover. The premium is reviewable and

    we may change the rate or terms and conditions of the policy by giving you 30 days’

    written notice.

    How do I make a claim?

    Please call us on 01903 823603 between 8am and 6pm Monday to Friday and

    9am to 12.30pm Saturdays.

    Payment Protection

    How do I make a complaint?

    We hope that you will be very happy with the service we provide. However, if for any

    reason you are unhappy with it, we would like to hear from you. In the first instance,

    please write to Customer Care, Lloyds TSB Insurance, Tredegar Park, Newport,

    South Wales NP10 8SB.

    We are covered by the Financial Ombudsman Service. If you have complained to us

    and we have been unable to resolve your complaint, you may then be entitled to refer

    it to this independent body. Following the complaints procedure does not affect your

    right to take legal action. Further details of our complaints procedure can be found in

    your policy document.

    What happens if I take out cover and then change my mind?

    This insurance is optional and you have the right to cancel your policy during a period of

    30 days from the day of purchase of the policy or the day on which you receive your

    policy, whichever is the later. If you cancel within this period you will receive a full

    refund of any premiums paid.

    You may cancel this policy at any time after this period by giving 14 days’ written notice

    to Lloyds TSB Insurance. The address to write to is: Lloyds TSB Card Operations,

    Payment Insurance, 4th Floor, Sussex House, 1-9 Gloucester Place, Brighton BN1 4BE.

    Would I receive compensation if the insurers were unable to meet their liabilities?

    The insurers are members of the Financial Services Compensation Scheme (‘FSCS’).

    You may be entitled to compensation from the scheme if the insurers cannot meet their

    obligations, depending on the type of insurance and circumstances of the claim.

    Payment Protection 6

    Payment Protection

    Termination of the contract

    The cover provided by this insurance will end if either of the following happen:

    • if you do not pay the premiums when they are due

    • the insurance is cancelled.

    After any statutory cooling off period you can cancel the policy by giving us 14 days' notice

    in writing to Lloyds TSB Card Operations, Payment Insurance, 4th Floor, Sussex House,

    1-9 Gloucester Place, Brighton BN1 4BE.

    We may cancel this policy by giving you at least 14 days’ notice at your last known address.

    If we cancel the policy we will refund premiums already paid for the remainder of the current

    period of insurance.

    Law and language applicable to this contract

    This contract will be governed by English law. The language used throughout the duration of

    this policy and in any communications relating to it will be English.

    Insurer details:

    The insurers of this policy trade as Norwich Union and are:

    • London & Edinburgh Insurance Company Limited for accident or sickness, unemployment

    (including carer) and hospitalisation cover.

    • Norwich Union Life & Pensions Limited for life cover.

    The insurers named in the policy summary will provide cover during the period of insurance

    according to the terms set out in your policy in return for payment of the premium. The main

    business of both insurers is insurance underwriting.

    Statement of Demands and Needs:

    Payment Protection Cover meets the demands and needs of customers who wish their credit

    card payments to be met in the event of their illness, unemployment or death. Information,

    but not advice, has been provided on payment protection cover to help you make an

    informed choice.

    Lloyds TSB Bank plc. Registered in England and Wales, No. 2065.

    Registered Office: 25 Gresham Street, London EC2V 7HN.

    Authorised and Regulated by the Financial Services Authority and a signatory to the

    Banking Codes.

    Other important information

    7 Payment Protection

    Customers with disabilities

    This policy summary is also available in large print, audio

    and Braille. If you require any of these formats please contact

    us on 01903 230599 between 8am to 6pm Monday to

    Friday and 9am to 12.30pm on Saturdays.

    Insurers

    London & Edinburgh Insurance Company Limited. Registered in England No. 924430. Registered Office: 8 Surrey Street, Norwich NR1 3NG

    And Norwich Union Life & Pensions Limited. Registered in England No. 3253947. Registered Office: 2 Rougier Street, York YO90 1UU.

    Both are members of the Aviva Group. Both are authorised and regulated by the Financial Services Authority.

    We accept calls made through RNID Typetalk.

    We may monitor or record phone calls with you in case we need to check we have carried out your instructions correctly and

    to help improve our quality of service.

    PPC/PolSum/Online/0107

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