FOS publishes guidance for "loss of use"

[MARTIN3030]

How we decide whether to tell a business to pay compensation to a consumer for “loss of use”. In this context, the term “loss of use” refers to circumstances where the consumer has been unable to use their motor vehicle because their insurer:

 

• incorrectly refused to settle a claim;
  
• “avoided” the policy (treated it as though it never existed) in error; or
  
• took too long to settle a claim (for example, the insurer took too long to carry out repairs agreed with the consumer).
  

 

 

 

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/loss-of-use-mv.html

[unclebulgaria67]

Martin

 

Can you please create a sticky for FOS publications related to Insurance. This way, every time there is some useful FOS info to be shared, there is one folder, people can refer to.

 

Might be worth having FOS stickies in other other financial folders.

[MARTIN3030]

Yes certainly.I thought could post it here,and then move into stickies.

I do normally put these things in a stickie as they are a good source of info.