Flaxmans July Newsletter
Are you sending out a FOS SOS?
It’s all change at the Financial Ombudsman Service (FOS).
New rules came into effect from 1 April 2019, and these changes have had a significant impact on the size of business that can present a case to the FOS.
The pros and cons of these changes will take time to come to light. As ever, though, the Flaxmans’ team is ready and waiting to help you adapt to the new rules.
Flaxmans Chairman, Roger Flaxman and Mike Wilson, one of our expert consultants, delivered this month’s BIBA webinar on the topic of Flaxman’s new FOS-SOS service. One hundred plus brokers attended the webinar, and both speakers received a great deal of positive feedback as did the new FOS-SOS service.
Case Study: A holiday home up in smoke
Mr Smith had recently purchased a timber cabin to let it out for holidays. He had purchased insurance through a specialist holiday letting insurer. The insurer imposed a fire alarm clause as follows:
It is a condition of this insurance that two smoke alarms are installed on the property. If you fail to comply…this protection will not cover the loss or damage caused by a fire.
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Have a Wonderful Summer
We will still be fighting for the rights of brokers and policyholders as sadly houses and factories still burn down, get robbed or flooded, and claims still get contested or rejected.