Is it not the case that the "auto renewal" of car insurance is a mis-selling scandal?
Unsolicited insurance documents are sent to people with (often in small print) the message "you must tell us if you don't want this" and a ridiculously short window to respond.
The language used is bullying in tone, implying that you are somehow at fault of the law and will be reported to the police if you do not renew.
If by mischance you happen to go over the arbitrary deadline they have designated (in small print) for telling them you do not want the insurance you are charged a cancellation fee of up to £50.
It seems astonishing that the financial services industry (in this case the insurance companies) has not learned its lesson.
This auto-renewal scam needs to be stopped and the insurance companies ordered to pay compensation to those people it has duped into taking out expensive insurance that is not appropriate for their circumstances.
Perhaps Louise Ellman MP and the Transport Select Committee could look at this?
Unsolicited insurance documents are sent to people with (often in small print) the message "you must tell us if you don't want this" and a ridiculously short window to respond.
The language used is bullying in tone, implying that you are somehow at fault of the law and will be reported to the police if you do not renew.
If by mischance you happen to go over the arbitrary deadline they have designated (in small print) for telling them you do not want the insurance you are charged a cancellation fee of up to £50.
It seems astonishing that the financial services industry (in this case the insurance companies) has not learned its lesson.
This auto-renewal scam needs to be stopped and the insurance companies ordered to pay compensation to those people it has duped into taking out expensive insurance that is not appropriate for their circumstances.
Perhaps Louise Ellman MP and the Transport Select Committee could look at this?
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