Whole-of-Life Decision Reference 2022-0310

• Case Outcome: Rejected
• Reference: 2022-0310
• Date: 07 September 2022
• Year: 2022
• Subject Matter: Whole-of-Life
• Finantial Sector: Insurance
• Conducts Complained Of: Maladministration (life),Delayed or inadequate communication

Decision Ref:

2022-0310

Sector:

Insurance

Product / Service:

Whole-of-Life

Conduct(s) complained of:

Maladministration (life)

Delayed or inadequate communication

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns the Provider’s implementation of instructions from the

Complainants’ financial broker.

The Complainants’ Case

The Complainants hold a life assurance policy with the Provider, since 1984. This policy is

assigned to a lender, and the Complainants have engaged the services of a financial broker

(‘the Intermediary’) to communicate with the Provider.

In August 2019, the Complainants’ premium for the policy was €437.60 (four hundred and

thirty-seven Euro and sixty Cent) per month, with life cover of €224,071 (two hundred and

twenty-four thousand and seventy-one Euro) and €49,531 (forty-nine thousand, five

hundred and thirty-one Euro) for the first and second Complainants, respectively.

The Complainants submit that, in August 2019, they contacted the Intermediary for a

quotation in relation to a reduction in their premium. Following this, the Intermediary

wrote to the Provider to instruct it to reduce the total premium and the life cover for the

first Complainant and copied the first Complainant into this email.

The Complainants submit that they did not instruct the Intermediary to request this

change to their policy. Further, they state their understanding that the Provider required

signed instructions from the Complainants themselves, for any such changes to be applied

to the policy.