Homeserve Offering Refunds to Victims of their 'mis-selling' of Insurance

Nov. 25, 2011 - PRLog -- People who have been potentially duped into buying insurance cover for such things as burst pipes, broken boilers etc. could be entitled to a refund as they may have been misled or aggressive tactics used to get them to buy the cover

“Homeserve offered insurance to give people peace of mind for the upcoming winter if a boiler breaks or you lose water etc. but it is suspected that there may have been aggressive tactics used or misleading information given, so you may not have the amount of cover you think you do,” said James Jones from Poor Credit Loans 4 You.                                        http://www.poor-credit-loans-4-you.co.uk/poor-credit-loans-for-poor-credit-loan-poor-credit-rating-loans-with-poor-credit-loans.html

Homeserve is a company that calls itself the UK’s ‘fifth emergency service’ and has around 3 million customers in this country with around 7.5 million policies and they have recently been receiving a number of complaints from customers about the cover - so they started an internal investigation and also called in business analysts Deloitte to also carry out an inquiry and the findings revealed that they did not meet their own standards.

“As a result of these enquiries they suspended their telesales operations while they retrained around 500 staff - though they are now allowing incoming calls to their call centres,” said James Jones from Poor Credit Loans 4 You.

The allegations made about the company by some customers were that they were misled or bullied into taking out unnecessary cover or cover that wasn’t sufficient and it is suspected that the sales scripts that the staff were using is misleading to the customers - which is why the telesales was suspended and the staff retrained.

Many customers are complaining that the small print of the contract means that people are not receiving the help they thought they had paid for if an emergency were to arise with their boiler or heater etc.

Chief executive of Homeserve, said, “We are determined to ensure customers receive the highest standards of service and we have therefore taken swift action to address the issues identified by our reviews.

“We have commenced a programme to re-train staff. We will resume marketing once we are confident that our sales processes meet the standards that we and our customers expect.

“As well as starting an investigation themselves, the Financial Services Authority (FSA) is now likely to investigate and this could lead to fines if they are not happy with their findings,” said James Jones from Poor Credit Loans 4 You.     http://www.poor-credit-loans-4-you.co.uk/poor-credit-pers...

They also started a review of their direct marketing materials and will also review all complaints made over the last year and be contacting customer 'whose complaint may not have been appropriately dealt with'.

There is no need to worry if you are an existing customer looking to make a claim or renew your policy - as you will still be able to do so.

If you feel that you have been ‘mis-led’ you can call them up to make a claim for compensation but if they refuse you can take your claim to the Financial Ombudsman.

Annie Shaw, Financial expert at the Daily Express said: “People should be able to get compensation.

“They should get their money back for any polices they were sold that they did not need or could not use. They could also get the value of any interest lost too.

“The company may also give people a goodwill payment by way of compensation.”

When it was announced that it would be suspending its telesales operations the companies shares plummeted by around 50%.

“Despite this news that the shares dropped and could continue to drop the firm still assured investors that it ‘remains on track to achieve the consensus market forecast profit’ for the full year ending 31st March 2012.

Richard Harpin, also went on to say that the problems with mis-selling could end up costing them £10 million in a one-off payment, another £10 million in annual restructuring costs and next years profits are predicted to fall by £15 million because of the fall in customer numbers, following the stop to their marketing.

The company has said that despite the recent set backs it had seen around 442 out of their 3 million customers cancel their cover.

Poor Credit Loans 4 You helps out people who fear they have been blacklisted because of past poor credit history which could include CCJ’s and defaults, arrears, late credit card payments or repossession.

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.

For help, phone 0800 215 5860
Or: http://www.poor-credit-loans-4-you.co.uk/ccj-loans-for-po...    

~Ends~

Notes for Editor:

Loans 4 You of London Ltd
Innovation Centre
Monks Brook
PO30 5WB
United Kingdom

Tel: Free Phone 0800 215 5860

Poor Credit Loans 4 You was formed in order to ensure people with poor credit had access to specialist help in securing the poor credit loans they need.

From its UK head office in Monks Brook, Loans 4 You operates across Britain, sourcing poor credit loans for people with poor credit.

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection

# # #

Poor Credit Loans 4 You is a top UK specialist for Poor Credit Loans for people from all over the UK.

Its wealth of experience in the Poor Credit Loan industry means it gets the best deals for people seeking a poor credit loan.

Poor Credit Loans 4 You